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Denver Market's Looking Good for 2001

DENVER-This year's hardy growth in the city's commercial real estate market will only get better next year or at least stay the course, say executives from Cushman & Wakefield's Denver office.

By John Rebchook | Updated on December 06, 2000

DENVER-The commercial real estate market here should remain as strong or stronger in the coming year, according to executives in the Denver office of Cushman & Wakefield Inc. “The bottom line is that our market is strong,” Sherman Miller, Cushman & Wakefield’s senior managing director of the Denver office, tells GlobeSt.com. “Overall, I expect it to stay strong. Continued growth in our metro economy should be benefiting the future of the commercial real estate markets.”

Tim Richey, an investment specialist, who has sold more than 16 million sf of buildings for more than $1.3 billion, says he often is asked if Denver’s office market is at its peak.He breaks office markets into four cycles: expansion, oversupply, recovery and bottoming.

Denver, along with Frankfurt, Germany, Paris, New York City, Boston and Washington, DC are in various stages of market expansion, says Richey. Amsterdam is about to peak and San Francisco has peaked, he contends. North Virginia, Madrid, London, Atlanta and Phoenix are suffering from an oversupply, he believes. Meanwhile, he says Warsaw, Shanghai, Bangkok and Los Angeles, all have bottomed while Tokyo, Seoul, Singapore and Hong Kong are recovering from downturns.

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