Bowen pointed to the lack of a defined e-commerce distribution system and overall supply, saying that is important to attract companies and retain others. However, he touted Denver's status as a regional hub, which allays much of the attraction and retention fear.

“Denver will always be a regional distribution market with a national focus due to the interstate highways and rail we have in place,” he said. “Kansas City and Chicago are at the confluence but Denver is growing in population, workforce and the number of corporate headquarters here. Investors want to be here because the fundamentals are in place: supply, demand and distribution.”

Coakley said companies are bullish on Denver speculative development, pushing land values, and consequently, rents, which is making infill sites more viable. He added that e-commerce grew last year and there is hope that Denver will be a beneficiary of that growth. He also pointed to the Pena Boulevard development which will lead to other development.

Kaplan agreed, adding, “Our artificial inhibitor to growth has kept Denver's appeal high. Double digit rental rates will continue and investors are willing to pay in the mid-6% caps.”

As a final thought, Bowen offered, “I'm cautiously optimistic about Denver but it has to correct to more normalized levels. Sometimes you have to step back from the frenzy and be patient if you want to buy in Denver.”