Quarter 3 commercial real estate reports are in for 2020. Three categories were compared, these include Office, Retail and Industrial projects/properties in three counties (Denver, Jefferson and Douglas). Numbers were not as bad as many expected. What was interesting was the seeming move out of Denver county. This could be similar to what New York is seeing. Heavy restrictions on businesses, the homeless population and violence (violent protest and other) make it impossible for businesses to survive as we learned from several business owners. Vacancy in Denver county is up in all three categories.
Commercial moving companies are also seeing a significant uptick in business. They are moving businesses from Denver to surrounding cities and municipalities. Businesses that cannot reinvent themselves or navigate in these interesting times might have to shutter. This reality is hard for those small businesses that have worked so hard. PPP loans and other stimulus helped, but now all the money has been spent. What is next for Denver county and beyond?
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Read the report here-3Q 2020 Marketing Report
IMPACT Commercial Real Estate is a commercial real estate firm focused on making an impact on businesses and the community through creative, thoughtful and dynamic real estate services. IMPACT offers a full range of real estate services including, but not limited to, exclusive brokerage representation for Sellers, Buyers, Landlords and Tenants, broker price opinions, real estate consulting services and strategic property dispositions.