DENVER-Earlier this month, we posted that The Orchard Town Center retail complex in Westminster, CO was sold for $123.5 million to Phoenix-based Vestar. In an update to that story, we chatted with David Larcher, EVP of Vestar, about why the firm believes in the Denver Market.
Larcher tells GlobeSt.com that “Denver is one of the top markets in the Mountain States which will experience continued economic growth.” The firm likes Denver, he adds, “because it has experienced job growth and housing values are at pre-recession peaks.”
Retailers are also attracted to the Denver market, Larcher explains.
“We believe that now is a good time to buy because we are through the worst part of the economic downturn and on the way to recovery,” he explains, adding that the firm would like to acquire additional value-add retail properties in the Denver market. “We also like Denver because it is one of the top growth markets for the younger population.”
Larcher also tells GlobeSt.com that the firm will continue to have a targeted aggressive acquisition strategy looking to acquire value-add retail properties in major metropolitan areas from Texas to California and up to Seattle. “We will acquire as many suitable properties that we find that meet our needs,” he says.
GlobeSt.com will continue to monitor and report on Vestar movement in the Denver area and other cities around the nation as information becomes available.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
