Why You Should Move Your Business to Denver
Discover the Opportunities Available in Denver, the Economic Center of the Mountain West
Denver’s reputation as an urban powerhouse has been cemented by a period of sustained economic growth, securing its title as the “metropolitan center” of the Mountain West region. The city has been recognized as one of the most desirable destinations for Millennials to relocate, the second fastest growing labor force, and the second best market for technology companies. The city has also proved resilient, ranking in the top 10 for cities successfully bouncing back from the pandemic, with all jobs lost at the onset having since been regained.
While the city was once known for an economy dominated by the oil and gas industry, Denver has seen a broad diversification over the last decade. This healthy business climate has contributed significantly to the city’s current prosperity, indicated by population growth of over 90% in the past two decades and current demographic forecasts predicting 122,000 new residents in the next five years.
Market Overview of Denver, Jewel of the Mountain West
Denver is home to 22 Fortune 1000 companies and ten Fortune 500 companies.
A young and vibrant city, Denver plays host to the corporate headquarters of Dish Network, Arrow Electronics, and DaVita. The rapid growth of Denver’s Millennial population has led to a proliferation of businesses catering to lifestyle demands, including developing over 100 craft breweries.
Denver also features several prominent higher education institutions, including the University of Colorado and the University of Denver, providing access to a young and consistent labor pool. Central light rail access and a bustling international airport – one of the three busiest in the country – make Denver an ideal place for business growth.
A Growing Population with an Burgeoning Economy
Colorado ranks 10th in the nation for overall corporate tax and business-friendly tax benefits and represents the top venture capital investment per capita among non-coastal gateway markets. Estimated growth in Denver for 2022 is 3.9%, with an additional 4.7% increase for 2023.
Denver's Office Market Leasing Opportunities
The Denver office market totals 118 million square feet of office space, nearly half of which is Class-A product. Sublease space constitutes 2.9% of the overall inventory and is slowly decreasing from record Q1 2021 highs. Overall effective rental rates have begun to climb after a brief decrease during the early stages of the pandemic, with current Class A rates just above $52 per square foot. Contact CP Group to see available properties in Denver.
Granite Tower
For those seeking to make the move, Denver’s Granite Tower offers an ideal office footprint. A Class A, 600,000 square foot office building situated within the heart of Denver’s Central Business District, Granite Tower is one of the city’s most vibrant work environments.
It is attached to the Ritz-Carlton and within walking distance of popular destinations such as Coors Field and 16th Street Mall. The property also offers easy access to a wide range of dining and retail options, including three of Denver’s most prominent restaurants: Guard & Grace, Tavernetta, and Elway's.
