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GlobeSt.com story says Denver office and retail development are lagging.
Excerpt:
"Denver has added jobs over the past several years," he says. "During the recession, they lost 260,000 jobs. Since then they've added 690,000. And we've seen employment growth in a variety of sectors.” Those sectors include healthcare, tech and construction, reflecting a diversity and a move away from the one-horse reliance on oil and gas, as we've reported elsewhere in this series. And, of course, jobs means retail.
The area to watch isn't the hot LoDo district, which Chang says has actually been a CBD focus of growth for years, but the up-and-coming River North, or RiNo area, which is currently transforming a creaky stock of industrial buildings into an artsy neighborhood packed with trendy restaurants.
But retail construction isn't equally hot; in fact Chang describes it as "Paltry. We've been seeing annual construction in the 500,000-square-foot range. To put that into perspective, in 2008 they were pushing three million square feet a year. So we're running about 20% of peak, and it's been that way for a couple of years."
Read the rest
here.
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