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Everyone says buy industrial in Denver, but my best week came from a tiny 1,200 sq ft retail spot on South Broadway
Everyone keeps saying industrial is the only play in Denver right now, but I closed three leases in five days on a small retail building near Alameda and Broadway, all local shops paying $28 a sq ft. My broker buddies told me to dump it and chase warehouses in Aurora, but the foot traffic from the new apartment towers did the work for me. Anyone else seeing small retail beat industrial in these pockets, or did I just get lucky with timing?
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claire_wells875d ago
Three leases at $28 a foot sounds great until one shop closes and you're stuck with 1,200 sq ft that nobody wants because it's too small for a chain and too pricey for a startup. Industrial in Aurora rents for half that with 10 year terms, so your five day run was luck, not a trend.
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