IRR-Denver Mid-Year Viewpoint 2015 Local Market Report - Retail
The Denver metro retail market is currently expanding. This market contains a significant amount of vacant developable land located in all directions from the Central Business District. Rental rates have increased over the last 12 months as a result of decreasing vacancy rates over the last 24 months. The market continues to absorb new supply while also absorbing existing supply. The Denver retail market has experienced all time low capitalization rates for institutional retail investments within last 12 months.
In addition, the Denver retail market has experienced the expansion of multiple national retailers calling the Denver metro area and the State of Colorado home for the first time. These new retailers consist of the following: Cabela’s, Dunkin Donuts, Trader Joe’s, Five Guys Burgers and Fries, Steak ‘N Shake, Conn’s HomePlus as well as several local recreational and medical marijuana retailers.
These above mentioned retailers have contributed to the significant amount of positive absorption experienced within the Denver retail market over the last 12 months. In 2016, the Regional Transportation District will open its newest light rail line known as the East Line, which will connect Denver International Airport to the Denver Central Business District. As a result of this long awaited light rail line expansion, a significant amount of new residential, commercial and mixed use developments are anticipated to break ground over the next several years providing continued demand for the area.
Download the full version PDF of this Local Market Report below. It includes graphs and tables.
IRR Mid-Year Viewpoint 2015 comprises a National Overview report and 300+ two-page Local Market Reports for all key property types as well as additional resources, including metrics methodology, graphs, and tables; these free reports may be downloaded from IRR’s site here.