Friday, November 10, 2006

Denver's Commercial Recovery

by Osman Parvez


The Wall Street Journal is reporting on the health of Denver's commercial market. The article notes that it's driven by job growth and strength in energy, finance, and professional service sectors. Office rents have increased as have prices for apartments downtown. The article also touches upon a how the tide of foreclosures are increasing demand for rental units.

Second Quarter 2006 vs 2005, according to the article...

Office vacancy has dropped from 19.2% to 17.6%
Retail vacancy has dropped from 18.0% to 16.1%
Apartment vacancy has dropped from 10.6% to 8.6%
Median home prices are up from $248,400 to $255,200

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Image: Ryan-O






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