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Strong 2000 Investment Market Erases 1980s Stigma

DENVER-1999 got the ball rolling for the 2000 investment market, which had closed the year on a strong note. Grubb & Ellis, in its 2001 forecast, says the metro area has finally shed its 1980s stigma.

By John Rebchook | Updated on January 02, 2001

DENVER-The local real commercial real estate investment market had showed almost no sign of weakness in 2000, according to the Denver office of Grubb & Ellis in its 2001 Real Estate Forecast.

The investment market had been led by J.P. Morgan Group paying $235.5 million, or more than $200 per sf, to Lend Lease Realty for the 17th Street Plaza high rise in the CBD, according to the report. “The real story in the sale was its affirmation that the metro area had finally shed the lingering stigma of the volatility witnessed in the late 1980s,” the report concludes.

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