Latest CBRE Research shows Denver tops the list of metros worthy of investment
Moving up from No. 9 to No. 8 in 2017, strong investor interest anticipated in Denver
Denver moved up in the rankings in this year's CBRE Americas Investor Intentions Survey from the No. 9 to the No. 8 slot on the list of "best metros for investment."
This follows what was widely recognized as an unprecedented year in the Mile High City for commercial investment in 2016.
"Denver posted its seventh consecutive year of growth with $12.9 billion in investment sales in 2016 – a 23 percent increase year over year," says Pete Schippits, senior managing director and market leader for CBRE in Colorado.
For three years CBRE Research has completed its annual investor intentions survey in an attempt to tap into investor sentiments about the commercial real estate market.
According to the report, investors continue to show interest in gateway markets, of which Denver is included in a class of cities including Denver such as:
Los Angeles maintained its position as the most preferred metro for investment in 2017, in front of Dallas/Fort Worth and New York City.
The 2017 survey reported that market growth and reduced business regulations are anticipated and will result in a "marginally more positive year than 2016," despite the threat of rising interest rates.
According to CBRE Research's "Real Estate Market Outlook," published earlier this year, Denver's retail market is expected to continue booming, thanks, at least in part, to sectors such as technology and financial services.
"Our multifamily, industrial and retail sectors all finished 2016 with record highs, and we also saw increased levels of foreign capital investment in our market," Schippits says. "Coupling this momentum with our continued job growth and diversified economy, we anticipate strong investor interest in Denver in the years ahead."