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Denver Commercial Real Estate In-depth
Denver's economy is based partially on its geographic position and its connection to some of the major transportation systems of the country. Because Denver is the largest city within 600 miles it has become a natural location for storage and distribution of goods and services to the Mountain States. Denver is also approximately halfwa...
Denver Commercial Real Estate In-depth
Denver's economy is based partially on its geographic position and its connection to some of the major transportation systems of the country. Because Denver is the largest city within 600 miles it has become a natural location for storage and distribution of goods and services to the Mountain States. Denver is also approximately halfway between the large cities of the Midwest like Chicago and St. Louis and the cities of the West Coast, another benefit for Denver commercial real estate.
More jobs are brought to the city by virtue of its being the capital of the state of Colorado, therefore the need for Denver commercial real estate is necessary. In 2005, a $310.7 million expansion for the Colorado Convention Center was completed, roughly doubling its size. The hope was that the center's expansion would elevate the city to one of the top 10 cities in the nation for holding a convention, as well as increase commercial real estate in Denver.
The financial and commercial capital of the Rocky Mountain region, Denver's downtown banking district, nicknamed the "Wall Street of the Rockies", consists of major national and international institutions. The city is the transportation focal point for a large portion of the western United States; consumer and industrial goods are transported by air, rail, and truck through Denver to more than 30 million people annually. Denver is a Foreign Trade Zone, providing advantages to companies involved in international trade. Denver commercial real estate is an excellent choice for both national and international companies.
Denver's central location, it is 346 miles west of the exact geographic center of the country, places it in an advantageous position for future economic development and growth. Choosing Denver commercial real estate is an excellent decision; analysts predict that the U.S. population is shifting south and west, with future concentration expected in the area from California to Utah and to the Gulf coast in Texas. Denver is at the center of this region; projections indicate that the city will become a high-technology research, development, and manufacturing center for the entire Southwest, because of this Denver commercial real estate will be essential.
Geography also allows Denver to have a considerable government presence, with many federal agencies based or having commercial real estate in the Denver area. In fact, the Denver-Aurora Metropolitan Area has more federal workers than any other metropolitan area except for the Washington, D.C. metropolitan area.
Denver commercial real estate is the perfect solution for any company that does business internationally. Denver's west-central geographic location in the Mountain Time Zone (UTC -7) also benefits the telecommunications industry by allowing communication between the North American coasts, South America, Europe, and Asia in the same business day. Denver's location on the 105th meridian at over 1-mile (1.6 km) in elevation also enables it to be the largest city in the U.S. to offer a 'one-bounce' real-time satellite uplink to six continents in the same business day.
Over the years, the city has been home to other large corporations in the central United States, making Denver commercial real estate a key trade point for the country. Major companies in the Denver metropolitan area employ workers in a range of fields such as air transportation, telecommunications, aerospace, and manufacturing. The city is also a major energy research center and a regional headquarters for government agencies. EnCana, Halliburton, Smith International, Rio Tinto Group, Newmont Mining, Noble Energy, Anadarko, Qwest Communications, Dish Network Corporation, Starz-Encore, and Comcast all call Denver home.