Regions West | Denver
Denver Economy Stable, Luring Renters
May 6, 2008

The Denver apartment market will remain reasonably healthy in 2008, though competition from the region’s shadow stock will offset some of the recent improvements to fundamentals, according to a first-quarter Apartment Research Report by Marcus & Millichap Real Estate Investment Brokerage Group. Near-term demand drivers remain intact, with local employers forecast to expand payrolls for the fifth consecutive year.Following are some of the most significant aspects of the Denver Apartment Research Report: employers are expected to create 13,000 jobs in 2008, a 1.1 percent increase; developers are predicted to complete roughly 2,960 apartments this year, up from 910 units in 2007; vacancy is forecast to end the year at 6.9 percent; asking rents are projected to increase 2 percent to $886 per month in 2008, while effective rents advance 1.7 percent to $789 per month; during the past year, transaction velocity has increased 10 percent.

 
Recent Denver Headlines
60,000SF Build-to-Suit Office Planned at 500-Acre Mixed-Use Project in Aurora
July 25, 2008
Development and construction firm Lauth has formed a joint venture with Lend Lease Communities to erect a 60,000-square-foot office building at Horizon Uptown, a 500-acre mixed-use development in Aurora, about 15 miles from Denver, Colo.
Turnkey Office Provider Opens 15,000SF Center in Cherry Creek
July 25, 2008
The Regus Group has leased 15,000 square feet at 100 Filmore Street in Cherry Creek, Colo., to house its newest turnkey office center.
130,700SF Denver Office Tower Fetches $32M
July 11, 2008
A transaction that resulted in a change in ownership of The Citadel, a nearly 130,700-square-foot office building at 3200 Cherry Creek South Drive in Denver, Co., has recently closed. KBS Realty Advisors acquired the seven-story building from Fort Worth, Tex.-headquartered Crescent Real Estate Equities L.P. for approximately $31.8 million.
Starwood Land Ventures Adds West Region President to Oversee Expansion
July 01, 2008
Starwood Land Ventures L.L.C. continues to expand its nationwide presence with the addition of West region president, Michael Forsum.
44 cook Seattle's Schnitzer Moves into Denver with 2-Building Office Grab
July 01, 2008
Seattle-based Schnitzer West has ventured into the Denver market with its first acquisition there, a pair of offices that Schnitzer has bought in a joint venture with ING Clarion Lion Value Fund. The properties were purchased from Crescent Real Estate Equities L.P. for an undisclosed amount.