The past five or six years have seen extensive expansion in all areas of Denver commercial property, but nowhere is this more apparent than the boom of multi-family and apartment complexes constructed in downtown Denver and surrounding neighborhoods. Of course, this increase in commercial multi-family buildings is directly related to Denver’s growing population.
Last year there were nearly 115 buildings constructed for commercial multi-family use that added several thousand units to the market. Despite the crowded space, it was still a record year for sales and rents. The sale of land and industrial space also had excellent numbers in recent years, indicating that the entire commercial property market is thriving.
More recently, the market has evened out and settled into steady growth. Going forward, this is the expected trend, although many people in the industry still predict that multi-family housing opportunities won’t keep pace with the increase in population, leading to a similar rise demand. If you’re looking to capitalize on the prices of commercial property in Denver – including rising rents in multi-family, retail, and offices space – you need a great property broker on your side.
Capturing Denver’s Fastest Growing Market
The median age in Denver is 37. This is down slightly from previous studies on the metro area, and it is expected to fall even farther in upcoming years. Why the slow, but consistent decrease in population age? Millenials are flocking to Denver in droves. Our city’s reputation as a laidback, outdoorsy city has attracted a large number of young professionals and highly skilled workers.
This population demographic is ideal for anyone interested in multi-family or apartment property in Denver. Millenials accept longer rent opportunities and remain renters longer than previous generations. As well, this population shows an indifference to ownership in their 20’s and 30’s. These preferences make multi-family and apartment properties not just an option, but a necessity.
Want to capitalize on this positive fluctuation of renters and multi-family demand in Denver? You need to work with industry professionals with in-depth knowledge of the market.
Denver Commercial Properties has handled leasing and provided property management services for three generations in Denver. Our office can take you from purchase, through closing, development, and the entire duration of your ownership.
Benefits of Brokerage in Multi-Family Market
Market knowledge is a substantial consideration for choosing a broker given that multi-family is a unique asset class among commercial space. But market knowledge is only one of many ways a commercial property broker can assist with your commercial apartment and multi-family needs in Denver. Familiarity with developers and stakeholder in the Denver area is similarly essential, as is an understanding of overall commercial property trends in Denver.
Speaking of trends, the multi-family trends in Denver are changing rapidly. New neighborhoods are quickly becoming hotspots for apartment complexes and multi-family properties, and knowing the optimal moment for an apartment building investment in Denver is crucial. That requires not only a local understanding but a look at nationwide multi-family statistics and data.
When you work with Denver Commercial Properties, we provide an overview of the Denver commercial real estate industry, local numbers, and developments, and provide consideration for broader market data. Our recommendations are comprehensive and inclusive, to provide your business with the best possible information. Ultimately, you can invest with confidence.
Consideration of Your Business Position
Your company occupies a unique space in Denver’s real estate industry. Maybe you are entering this market for the first time, alternative you are a major stakeholder. In either instance or circumstances in between, you come to Denver Commercial Properties with a set of concerns and objectives as unique as your company.
We don’t let these singular attributes go unnoticed. Our team provides boutique brokerage services that incorporate all aspects of your company. Looking for a quick turn-around on investment? We’ll propose properties accordingly. Are you more interested in a long-term, high-yield investment in multi-family? We have you covered.
See what a difference this business-specific approach can make for your investment decisions. Contact Denver Commercial Properties online, by phone, or via email.