Denvers office market has been hot since the end of the Great Recession. Just last week, Zeller Realty Group paid $70M for the 220k SF Guaranty Bank Building (above). CBREs investment sales guru Geoff Baukol tells us investor desire for Denver is not waning. We are no longer categorized as a secondary market by the major institutional investors. Capital wants to have a dot on the map in Denver, Geoff says. To add heat to the buying fever, he says foreign capital is now among the competition for both CBD and suburban office projects.Geoff sees an imbalance between the number of investors and the buildings on the market. "This imbalance ...has led to incredibly strong pricing, and will lead to more product entering the market."
Denver Office Sales Still Sizzling
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Geoff Baukol, Zeller Realty Group
