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Investors Outpace Previous Years, Buy $3B in Properties During 2005

DENVER-Investors this year will buy almost $3 billion in office, industrial and retail buildings in Denver, according to two top Cushman & Wakefield brokers. This year's tally is projected to be 48.7% better than the sales volume in 2004 and 30.9% higher in the previous record, set in 1998 when $2.22 billion in sales occurred.

By John Rebchook | Updated on December 14, 2005

(To read more on the debt and equity markets, click here.)

DENVER-Investors are on pace to buy a record $2.9 billion this year, according to top investment brokers at Cushman & Wakefield, Patrick T. Devereaux and Gene Pride. Both are directors in the Denver C&W office.

If their prediction is on right, investors will snap up almost $1 billion more in offices, retail and industrial properties this year than they did in 2004, according to the brokers. And the most amazing part of that is that 2004 was the second best year on record with $1.95 billion in sales. This year’s tally is projected to be 48.7% better than the sales volume in 2004 and 30.9% higher in the previous record, set in 1998 when $2.22 billion in sales occurred. And that year was skewed by real estate trusts on a spending spree, buying up huge portfolios of offices, retail and industrial properties.

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