Colorado Center Development – Video

Check out the video featuring the development at Colorado Center – now under construction! Retail space available.

For more information on the retail space available, click here: Colorado Center Development

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The Denver Post | Centennial looks for retail renaissance along Arapahoe Road

CENTENNIAL — Arapahoe Road, regarded by many as Centennial’s Main Street, appears by all measures to be a bustling retail zone with tens of thousands of vehicles passing through each day.

But the preponderance of that activity — and the all-important sales tax revenues generated — misses Centennial entirely.

Around the interchange of Interstate 25 and Arapahoe Road, there is a Home Depot, a Lowe’s, a Target and a Sprouts Farmers Market. All are inside the borders of Greenwood Village.

At the other end of Arapahoe at Parker Road, a Sprouts, a Homegoods store and a Target beckon motorists into the Cornerstar shopping center. Sales tax dollars dropped there end up with Aurora.

“We live in a very competitive neighborhood because we’re surrounded by some pretty competitive cities,” said Ken Lucas, a Centennial councilman who said city leaders have spent a lot of time figuring out ways to improve the city’s retail position in the corridor. “It’s going to be a challenge.”

Enough of a challenge that the city this week signed off on a $30,000 contract with KP & Associates to get ideas on how to make more of Arapahoe Road, which sees 56,000 vehicles a day at Peoria Street and 54,000 daily vehicles at Parker Road.

The study will focus on a 5½-mile stretch of the road, between Quebec Street and Parker Road. A final report is due in December.

“What are our current conditions? What opportunities do we have for retail in the future?” asked Neil Marciniak, economic development manager for the city. “How do we attract and retain long-lasting retail businesses along the corridor?”

Not that Centennial’s portion of Arapahoe Road is a bust. Of the city’s nearly $34 million in sales revenue last year, about $7 million — or just over 20 percent — came from the corridor.

But Arapahoe through Centennial is dominated by sprawling auto dealerships and suburban office complexes, with less of a focus on the everyday shopper looking for groceries, clothing or electronics.

That’s likely due to the fact, Lucas said, that Centennial didn’t become a city until 2000 and neighboring municipalities already had claims on key parcels of land — especially around major intersections.

“A lot of this stuff happened before the city was a city,” he said. “We had to start in the hole.”

A big part of emerging from that hole, Marciniak said, is bringing to Arapahoe the type of businesses that will keep the six-lane thoroughfare thriving and bringing back shoppers.

It’s not like the city hasn’t had notable retail successes, like the opening of IKEA four years ago, or Streets of SouthGlenn, which comes closest to mimicking a downtown district for the sprawling city of 106,000.

But that success has been more elusive on Arapahoe Road.

“What genres of retail can we attract?” Marciniak said. “Maybe not so much strip (style) but more well-rounded retail.”

The city put into action the Arapahoe Urban Center subplan in 2009, which envisions a broader picture of urban style development around the I-25 interchange. The retail analysis will build on that, said Centennial principal planner Daniel Krzyzanowski, but take a more “ground level” look at near-term development opportunities.

Councilwoman Kathy Turley at a City Council meeting asked about the viability of creating a more intimate Main Street-style retail experience. Centennial’s city hall complex and $5.3 million Center Park are located at Arapahoe Road and South Revere Parkway.

Katy Press, principal with KP, said a downtown shopping district would have to be designed very carefully. It would likely need an anchor store — or anchor concept — to bring in enough shoppers to sustain the smaller, independent boutique retailers.

“How do you create an anchor out of a nontraditional retail center?” she asked. “It’s not enough just to build it.”

She said Arapahoe Road looks like it does because it was designed and built with the automobile front and center.

Press added: “It’s been auto-centric and retailers have responded to that.”

Read more: The Denver Post | Centennial looks for retail renaissance along Arapahoe Road
Re-posted by: Crosbie Real Estate Group
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Crosbie Real Estate Group | Recent Deals August 2015

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Commercial Real Estate Recap : July 2015

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Denver Business Journal : Denver rated America’s best place for business by Forbes

Denver is Amedenver coloradorica’s best place for business and careers, and Fort Collins is No. 10, Forbes magazine declares in its latest annual ranking.

“The Denver-Aurora-Lakewood metro area, home to 2.8 million people, is attractive for its diverse economy, highly educated labor force and outdoor recreational opportunities,” report author Kurt Badenhausen writes. “Companies are increasingly choosing Denver as the site for new operations or to relocate.”

Forbes’ report cites “Denver’s relatively central location [which] makes it a natural location as a distribution hub for the American West, while also supporting a number of growing industries in technology and telecommunications.”

Energy is “another staple of Denver’s economy,” it says. The report also lauds Denver for its arts and cultural scene, including the Denver Art Museum and Denver Performing Arts Complex, as well as “bustling neighborhoods such as LoDo, … filled with art galleries, restaurants, bars and clubs,” and its outdoor attractions.

Denver ranked No. 4 on Forbes’ list last year and Fort Collins was No. 5.

Other Colorado cities on Forbes best-places-for-business list:
Boulder, No. 26.
Greeley, No. 33.
Colorado Springs, No. 37.
Nationally, Raleigh, North Carolina, comes in at No. 2 after Denver, followed by Portland, Oregon; Provo, Utah; and Atlanta.

Read more: Denver Business Journal : Denver rated America’s best place for business by Forbes
Re-posted by: Crosbie Real Estate Group
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Commercial Real Estate Recap : June 2015

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Colorado Real Estate Journal | Thank You ICSC Come As You Are Colorado Sponsors

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Business Insider I The 20 hottest real estate markets in the US

Spring is generally regarded as the most popular time of year to buy a house, but with that comes a bit of a buyer’s problem: competition.

Home prices were up and inventory was down in May from last year, according to a monthly analysis from Realtor.com.

Meanwhile, property listings turned over at a much higher rate, contributing to the high-pressure situation that is finding and purchasing the right home.

Many of the places with the hottest markets in May will come as no surprise to consumers — most are in California. Realtor.com determines “hot” markets based on two factors: the median inventory age in the market and the number of views per listing on Realtor.com, and the 20 hottest markets rank in the top 50 in both metrics.

Nationwide, a home is on the market for a median 66 days, and in the hottest markets, inventory turns over eight to 45 days more quickly than in the rest of the country.

Based on data from the first three weeks of May, Realtor.com determined the 20 metropolitan statistical areas (MSAs, as determined by the U.S. Census Bureau) with the hottest markets this spring.

20. Stockton/Lodi, California
April 2015 rank: 38

19. Columbus, Ohio
April 2015 rank: 22

18. Manchester/Nashua, New Hampshire
April 2015 rank: 31

17. Oxnard/Thousand Oaks/Ventura, California
April 2015 rank: 13

16. Austin/Round Rock, Texas
April 2015 rank: 14

15. Los Angeles/Long Beach/Anaheim, California
April 2015 rank: 15

14. Fargo, North Dakota/Minnesota
April 2015 rank: 12

13. Boulder, Colorado
April 2015 rank: 17

12. Sacramento/Roseville/Arden-Arcade, California
April 2015 rank: 21

11. San Diego/Carlsbad, California
April 2015 rank: 10

10. Detroit/Warren/Dearborn, Michigan
April 2015 rank: 11

9. Ann Arbor, Michigan
April 2015 rank: 9

8. Santa Rosa, California
April 2015 rank: 7

7. Santa Cruz/Watsonville, California
April 2015 rank: 8

6. Boston/Cambridge/Newton, Massachusetts
April 2015 rank: 6

5. Vallejo/Fairfield, California
April 2015 rank: 5

4. Dallas/Fort Worth/Arlington, Texas
April 2015 rank: 4

3. San Jose/Sunnyvale/Santa Clara, California
April 2015 rank: 3

2. San Francisco/Oakland/Hayward, California
April 2015 rank: 2

1. Denver/Aurora/Lakewood, Colorado
April 2015 rank: 1

Downtown Denver

These markets have seen tremendous demand and turnover for a variety of reasons. In many of the California locales, economic growth, combined with limited supply and high demand, make homebuying a bit of a mad dash. For places like Detroit and Ann Arbor, the hot market is driven mostly by affordability, in conjunction with economic recovery.

No matter where you’re looking for a home, it’s good to know what you’ll face in terms of competition, so you can better prepare yourself to make an offer when you find a desirable property. Before any of that, it’s crucial you work to improve your credit to the best of your ability and make sure it’s in good shape before house-hunting or applying for a mortgage. The better your credit, the more options you’re likely to have, even in a competitive market. You can check your credit scores for free on Credit.com.

Read more: http://www.businessinsider.com/the-20-hottest-real-estate-markets-in-the-us-2015-6
Re-posted by: Crosbie Real Estate Group
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Denver Business Journal I Trammell Crow to start on 8-story Cherry Creek apartment complex

Trammell Crow Residential will soon start building an eight-story apartment tower at 3300 E. First Ave. in Cherry Creek, adding 164 units to the market, and associated redevelopment will add retail space to the area.

Trammell Crow plans to break ground this month, with completion expected in mid-2017.

The apartment complex, to be called Alexan Cherry Creek, will be located at East First Avenue and Cook Street. The site was formerly home to a one-story parking garage for an adjacent office building, which will get a redeveloped ground floor.

“This was an extremely unique opportunity in the Cherry Creek submarket that came with several layers of deal complexity, including replacing a parking requirement for an existing office building and a re-zone,” said Chris Cowan, lead broker with ARA Colorado’s Land Services Team, which represented the seller, Ogilvie Properties Inc.

“In the end, Ogilvie Properties and TCR were able to see the bigger vision and success of a mixed-used development and able to overcome all obstacles. This will be an irreplaceable asset for TCR,” Cowan said.

A parking structure will be included in the development that will cater to office and apartment users, as well as patrons of retailers that will be added by Ogilvie to the ground floor of the existing office building.

For more information about the retail portion of this property, click here: http://www.creginc.com/pdf/Denver_3300E1stAve.pdf

Read more: Denver Business Journal I Trammell Crow to start on 8-story Cherry Creek apartment complex
Re-posted by: Crosbie Real Estate Group
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Come As You Are Colorado Party – ICSC 2015

Check out a few of our favorite photos from our ICSC Come As You Are Colorado Party, hosted by us, Crosbie Real Estate Group, and Land Title Guarantee Company!

To see all of the pictures, click here!

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