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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Colorado Real Estate Journal I Crosbie Real Estate Group Ad, Retail Quarterly May 2015

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Colorado Real Estate Journal I Crosbie Real Estate Group Ad, May 6-May 19th, 2015 Edition

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National Real Estate Investor I U.S. Chains Continue to Up Store Opening Plans

FiveGuysRestaurantU.S. chain retailers have upped their store opening plans ever-so-slightly in April, confirming a positive outlook for the retail real estate sector going forward, according to the National Retailer Demand Monthly report from RBC Capital Markets.

RBC researchers estimate that the chains in their database have increased the number of stores slated to open over the next year by 2.5 percent since January, to 41,918 new locations. The same retailers also increased the number of stores they plan to open over the next two years by 2.8 percent, to 78,647 locations. Restaurant operators, discount department store chains, children’s apparel retailers and gift sellers accounted for a significant portion of additional planned openings.

RBC REIT analyst Rich Moore also noted that retailers continue to expand their workforce, indicating that net store openings are likely to be positive.

“The strength of the store opening picture continues to push new shopping center development, which is at a post-recession high,” he wrote. “In all, the picture remains a healthy one for retail landlords, and we look for solid quarterly results in first quarter 2015.”

The top few retailers that plan to grow the most as a percentage of their existing portfolio are made up of restaurant chains and convenience stores, including Penn Station—East Coast Subs and Five Guys Burgers and Fries. At the same time, discretionary retailers Bed, Bath & Beyond, Urban Outfitters, Crazy 8 and Francisca’s Collections also found their way on the top 30 list in April.

Meanwhile, Dollar General (1,300), Family Dollar (1,000), Sephora (100) and Dollar Tree (600) were among the top 30 retailers planning to open the greatest total number of stores over the next two years.

Read more: National Real Estate Investor I U.S. Chains Continue to Up Store Opening Plans
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