Denver is growing. That’s good for the economy of Metro Denver and the State of Colorado. Unemployment is hovering around 3.5%. Office vacancy over all is just under 10%. Overall Industrial space vacancy is just 4.4%.
Statistics mean different things to each of us. If you’re running out of office space, you need to start finding a solution to the problem before you have to put people to work in inconvenient places. The same is true if you’re manufacturing a product. Long-range planning is even more essential in today’s healthy economy than when there were many vacancies from which companies could choose and many workers willing to take whatever job they could find.
The location of your facility can be a big factor in being able to hire qualified employees.
Attracting the creative, educated and skilled workers that you will need in our expanding high-tech environment will be easier if your facility is near a transportation hub and in an area where there are restaurants, entertainment options, and other amenities that make an area an enjoyable place to work and live. The Downtown Denver Partnership and city planners have focused on all of this as they plan for modifications and growth in Denver’s central business district. Some areas of the suburban markets also offer these benefits.
Industrial, distribution and various service industries also need access to major highways. The vacancy rate for warehouse space is so low that new construction has begun on the East margins of the metro area. Very large warehouses are being built in anticipation of national distribution companies coming here. Metro Denver is central to the entire country. Available space for small and mids-ized companies is likely to remain tight for some time as developers regard that as less profitable to build.
Finding workers for jobs in these industries will be aided by having a facility that is clean, well maintained and that is an enjoyable place to work, in addition to being conveniently located for both the business and the labor base. Long-range and flexible thinking can help you arrive at the best solution.
Carol High Commercial Real Estate, Inc. has worked through many of these challenges in 30+ years of commercial real estate. We ask helpful questions and find creative solutions for problems that are no longer easy to solve. Email firstname.lastname@example.org for more information or call 303-628-0888.