In this economy, it is difficult to know where to put your money. Many argue that commercial real estate is a safe and smart investment if it is done in the right way and the right place. Colorado has been highlighted as one of the top states to invest in real estate in the recent years. Some of Boulder, Colorado�s most prominent business leaders gave their opinions on the commercial real estate market at the Boulder Economic Council 2010 Economic Forecast. According to Stephen Tebo, a local developer, Boulder�s commercial real estate industry has endured despite other locations� economic downfall. Now is the time to invest in Colorado commercial real estate! The retail industry on 29th street and FlatIron Crossing, two local malls, began improvements at the end of last year. With social networking, and a new technological world growing, retail properties can advertise much easier. As a result, retail and commercial buildings are expected to see more sales in 2010 and for years to come. Boulder is certainly up to date on smart phone applications and social networking sites that can promote the commercial industry much faster. Therefore, Boulder, and Colorado overall, is a great location to invest your finances in commercial real estate. Our local economy plans on growing and thriving as we come into the new year.
The strength of Denver�s commercial real estate market was featured in the New York Times article entitle �Denver Aims to Ride out the Recession�. The article emphasizes Denver�s renewable energy, stable real estate market, diverse industries and the expansion of the mass transit system. It is because of these key aspects, that Scott Anderson, a Wells Fargo economist believes Denver and its surrounding areas will be �in for a more mild recession� than the rest of the country. The article centers around Randy Nichols, a Denver developer who received concerning responses when deciding to put up a 42 story mixed use tower also known as the Spire in the middle of the nation�s economic crisis. Nichols didn�t assume the economic downturn would bypass Denver; he just took confidence in the fact that Denver maintained the resources to ride it out without fully giving in. Nichols aimed the Spire at Denver office professionals looking to vacate the suburbs and move to the city in hopes of avoiding the commute, and reaping the benefits of the shopping, cultural amenities and recreation areas near by. He highlighted the Denver commercial real estate market by stating his hopes of mitigating the financial crisis for the commercial real estate market by bringing in new residents and business. While the economic crisis cannot fully be avoided by anyone, Denver is utilizing all resources to ride it out with heads held high.
Author: Michael Bittner
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