Page 26AA —
COLORADO REAL ESTATE JOURNAL
— November 19-December 2, 2014
Retail
by John Rebchook
The Denver-area retail mar-
ket is so strong that owners
would rather hold than sell,
creating a shortage of proper-
ties to buy.
That is one of the conclusions
of a third-quarter Denver-area
retail report by Marcus & Mil-
lichap.
“As revenue streams rise and
owners are becoming more
reluctant to exchange at cur-
rent cap rates, many are hold-
ing on to assets, limiting for-
sale inventory,” according to
the report.
The number of single-tenant,
net-leased properties will be
limited by the number of list-
ings, the report notes.
And multitenant retail sales
are down 15 percent from a
year earlier, “as supply of prop-
erties fell short of demand.”
And those who do sell expect
top dollar, “taking advantage
of intense investor demand,”
the report notes.
Retail, of course, reflects the
local economy.
And the Denver metro mar-
ket is firing on all cylinders,
with 42,000 new jobs expected
to be added this year, a 3.2 per-
cent year-over-year increase,
the report notes
“A favorable business climate
and an affordable cost of living
are drawing many employers
Whole Foods will take 56,000 square feet in the 17W development by Union Station.
