Part 1 of 2
DENVER—“The market is the strongest I have seen it in my 23 years of working in commercial real estate in the area.” That is according to Brian Watson, founder and CEO of Denver-based Northstar Commercial Partners. GlobeSt.com recently chatted with the executive on the local market—among other things—in preparation for our upcoming RealShare Denver conference on August 11.
GlobeSt.com: How would you describe the Denver CRE market right now?
Brian Watson:The market has strong fundamentals, and prospects for future growth. The area has moved from a third tier investment city, to a top tier city where people want to live, work, and invest. Though it is not a gateway city, it has very strong prospects for the future.
GlobeSt.com: Is this kind of market growth sustainable? What challenges and opportunities have risen from this kind of situation?
Watson:Given the younger age of the workforce, that it is highly educated, and that it serves not only the Rocky Mountain Region but worldwide markets, I believe it is sustainable as long as job growth continues, and we are not burdened with over regulation. The cost of living, resources like water and infrastructure are potential challenges that will need to be addressed.
GlobeSt.com: Do you have any insights or advice for those looking to invest in the Denver area?
Watson:As usual, invest for the right reasons, analyze the investment thoroughly, and be committed to the area for a longer term basis. Like anything, there are certain sectors of the market that are very concerning, where there are other sectors that present a lot of opportunity.
Check back in the next day or so for more from this interview on what makes Northstar Commercial Partners unique within the industry, why they purchase vacant assets, international investors and more.
And stay tuned to more on Denver as we gear up for our new RealShare Denver event there on August 11th at the Magnolia Hotel. Click here to sign up or learn more.
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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.
