CREJ - Office Properties Quarterly

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Page 30 — Office Properties Quarterly — April 2015
the only supersector to post a decline
in employment in metro Denver in
2014. Minimal growth in the other sec-
tors in this category will result in little
change in employment in this category
in downtown Denver.
Changing demographics also influ-
ences office space needs. Just as metro
Denver historically was known as a
magnet for the baby boomers, the
region is now a choice location for
the millennials.The millennials are
the largest population group in metro
Denver, numbering just over 730,200
in 2015.While the generation X and
baby boomers dominate the labor force
today, the millennials are making their
mark on the workplace and will repre-
sent the largest component of the labor
force within 10 years.
Some key trends that influence the
labor force and employment potential
in metro Denver are emerging with
the shifting generational groups, such
as more telecommuting, flexible work
schedules and locations, and more
interest in co-working space.These
trends are arising due to our entrepre-
neurial environment, as well as mil-
lennial demand for greater work-life
balance.
The diverse employment base in
downtown Denver and throughout
the Denver metropolitan area means
that employment declines in one sec-
tor may be offset by increases in other
sectors. In addition, a vibrant entrepre-
neurial community bolsters the metro
Denver economy. Forbes ranked Den-
ver as the second-best city to launch
a startup business and NerdWallet
ranked Denver the fifth-best city in the
U.S. for millennial-aged entrepreneurs.
The solid business fundamentals in
Denver ensure that the region will con-
tinue to expand in 2015 and beyond.s
of the world’s leading financial services
companies, signed a lease at 1801 Cali-
fornia for 121,000 sf, effectively dou-
bling the size of its current space in
the Denver Tech Center and bringing
650 jobs downtown when the move
occurs later this year.
Brookfield Property Partners L.P.
announced the leasing agreement
with Transamerica, a milestone that
reaffirms that Denver is clearly a top
city not just for business overall, but
also the financial services industry
in particular. Transamerica’s choice
to remain in Denver and grow sig-
nificantly here is a great move for
the century-old company, as well
as a broader boost to Denver’s next-
generation workforce and climate of
innovation.
“We are delighted to establish a
notable footprint for Transamerica
in the heart of Denver’s financial
district,” said Blake Bostwick, chief
marketing officer of Transamerica’s
Investments and Retirement division.
The property’s premier amenities
as well as the overall urban envi-
ronment downtown were cited as
supporting Transamerica’s plans to
attract professionals from through-
out the metro area and the southern
and northern corridors, he said.
The Transamerica decision rein-
forces that Denver’s active, vibrant
workforce seeks an urban environ-
ment with easy access to booming
residential units in and around the
city center, a thriving retail and
dining scene, theatre district and
sports venues, and convenient tran-
sit options including bike lanes and
walkability.
Each recruitment or retention
announcement showcases Denver’s
core strengths but is invariably due
to a unique mix of specific factors.
I suppose that’s what keeps eco-
nomic development work exciting
and rewarding. Speaking for myself,
it’s hard to imagine playing in this
league without the deep talent of
Denver’s tremendous, competitive
assets.s