Investors Hot for Denver Bread & Butter
The drumbeat of investor interest in Denver bread-and-butter properties has been steady through Q1, and DTZ managing director of capital markets RC Myles tells us that he expects that to continue through the rest of the year. The flow of new capital from both domestic and foreign sources is keeping things lively, and with a modest amount of new construction, the market is unlikely to experience oversupply.
On the demand side, falling oil prices will have a softening effect on oil and gas tenants, RC says, but will be a boon to the construction industry by way of decreased commodity prices and a new source of labor. Recent investment sales in which DTZ's been involved include Mountain View’s sale of 106k SF of retail space at 6415-6455 Business Center Dr in Highlands Ranch, and Wells Fargo Bank’s sale of 160k SF of office space at 9100 E Mineral Circle in Centennial.
