Doug Jennings, CCIM | 720-434-6637 | [email protected]

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Doug’s Commercial Report (Denver)

Office Impact

Yesterday, and today, the conversation seems to be around the topic of collaborative space when it comes to office talk. In the past we seemed to have focus on ergonomics, and maybe even basic efficiency in how our office spaces operates. You may even remember seeing the inflatable workout ball as a chair. However, tomorrows conversation for office space is all surrounded with the topic of self-driving cars. I herd a quote the other day that said as much as 40% of the down town Denver market space is currently used for parking. Whether this is from off street space, or parking garages, this is a significant number that will have a major change once the autonomous vehicle becomes a standard in the market place.

This change isn’t just impacting office space, but it is going to be just as big of a game changer as the internet has been. In fact, here is a story of a beer truck in COLORADO that successfully delivered a load through  self driving technology:

Self Driving Beer Truck

Office, Office, Office….

From building amenities, to the list of some of the most recent – top of the line offices, I think this article best captures the total landscape of Denver’s office space:

CREJ Office Quarterly Review

Better yet, if you want some great details of some of the top office space in the area, don’t miss this breakout:

CREJ Office Roundup

Total Sales – Office Space

I like to look at the historical sales in a minimum of a three year view. I think that if you only look at one year at a time it is easy to get lost in the seasonality of any cycle, and it’s easier to see in this chart that the beginning / end of the year could easily move someones view if we were presented the data in anything less than a longer term perspective. That said, I don’t see anything out of line with the office space for the Denver market place. The only thing that I would add to this view of the market place is new office buildings that are to come online as we have all seen the new buildings in the down town area. I will try and find a way to add this data in the future. Or, if you have a specific request in how to review any of this, feel free to let me know?

Disclaimer: All information provided is based on data from the county of Denver records and is not intended for investment advice. The quantity count in this report is based on  the count of parcel s reported within each transactions. Call for details , and or, inquiries on the data provided.

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Denver Commercial Report – July