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Crosbie Real Estate Group I Recent Deals

Crosbie Real Estate Group I Recent Deals

Some of our recent retail deals and tenant openings throughout the state of Colorado.

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Marcus & Millichap : Retail Research: Denver Metro Area

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Marcus & Millichap have released their 3rd quarter Retail Research Market Overview of the Denver Metro Area. Below are some report highlights regarding Denver’s retail market:

  • Denver’s retail market will continue to make significant strides in recovery, led by strong employment gains and expanding population
  • Growth in the area’s high-tech sectors has led to the passing of the Colorado Advanced Industries Acceleration Act, designed to provide proof-of-concept grants for 7 high-tech industries
  • A significant amount of capital investment continues to be brought into the region through the combination of a booming high-tech sector and state initiatives
  • Local employers added 38,000 positions during the past year, expanding payrolls 3.1%
  • Retail spending surged 8.6% in the last 12 months
  • Vacancy continues to drop: lowest vacancy is in the Colorado Blvd/Cherry Creek submarket (2.9%); highest vacancy is seen in the Northwest submarket
  • Asking rents over the last year have rose 1.9% to $15.76 PSF
  • Retailers have been relocating to space near Union Station and the Denver Tech Center. As a result, Aurora and the Northwest submarkets have the lowest asking rents for available space. 
  • Sales of restaurants and fast-food properties increased by 16%, while drugstore sales slipped due to limited properties coming to the market

To view the full report, click here.

Re-posted by: Crosbie Real Estate Group

The Denver Post I For Wheat Ridge, 38th Avenue a corridor of change

Valente’s Italian Restaurant, a Wheat Ridge dining institution for four decades, is now home to Colorado Plus Brew Pub, which boasts 56 local craft brews on tap and serves picquillo peppers stuffed with merguez sausage and goat cheese.

Across the street and to the west, a formerly fire-damaged building hosts Compass Construction, a yoga studio and an acupuncturist.

Nearby, Wheat Ridge Cyclery operates an airy and modern showroom complete with a repair shop, custom fitting area and warehouse.

Ron Kiefel took the risk of expanding the store his father started 40 years ago, in part because he believed in a comeback effort the city was undertaking.

“Businesses that invest and reinvest in themselves can thrive in this environment,” he said. The same applies to communities, he adds.

All the changes are part of a transformation taking place along West 38th Avenue, one civic leaders hope will allow Wheat Ridge to attract a new generation of residents and short-circuit the blight that older neighborhoods typically suffer before gentrification.

More than 30 new businesses have located on the corridor, which stretches from Sheridan Boulevard on the east to just west of Wadsworth Boulevard. Many were assisted by the city and a group called Wheat Ridge 2020, which stepped up their efforts two years ago in a program called Ridge at 38.

Sales-tax revenues in the district in the first quarter were up 15.1 percent from a year earlier, driven by energetic entrepreneurs such as Susannah Burley, who started a flower shop called Posey Girl.

Read more: The Denver Post – For Wheat Ridge, 38th Avenue a corridor of change
Re-posted by: Crosbie Real Estate Group

Interested in retail at 38th and Wadsworth Blvd? Check out our brochures here: Wheat Ridge Corners & Wheat Ridge Marketplace