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Wanted: Denver Development

DENVER—Growth is a good thing. But in this last in our Denver Analysis series, Marcus & Millichap's John Chang says the Mile High City needs development to sustain it.

By John Salustri | Updated on June 26, 2015

DENVER—Retail in the Mile High City is doing very well, thank you. John Chang, first vice president for Marcus & Millichap, reports that the city’s fierce rate of population growth and plentiful jobs in a variety of vertical industries are feeding the sector. But a short supply—in office and, of course, retail—will demand more development if the city wants to sustain its current growth rate.

“Denver has added jobs over the past several years,” he says. “During the recession, they lost 260,000 jobs. Since then they’ve added 690,000. And we’ve seen employment growth in a variety of sectors.” Those sectors include healthcare, tech and construction, reflecting a diversity and a move away from the one-horse reliance on oil and gas, as we’ve reported elsewhere in this series. And, of course, jobs means retail.

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