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— Office Properties Quarterly — March 2016
E
ver since the first settlers
stopped on the banks of Den-
ver’s South Platte River, the
river has been a source of
commerce for its inhabitants.
Whereas back then it was used for
agriculture, today the river banks
are occupied by creative technology
companies working in innovative
redevelopments of historic buildings
to help fuel record growth in Den-
ver’s technology sector.
Denver’s expanding tech scene has
paved the way for a new subindus-
try in town – one that not only pays
homage to the city’s agricultural his-
tory but also embraces one of Colo-
rado’s next frontiers in the world
of technology. Denver is poised for
growth in “ag-tech,” short for agricul-
tural technology, thanks to our agri-
cultural roots, interest from capital
investors, infrastructure investments
and innovative tech culture and tal-
ent pool.
Ag-tech can be defined in a variety
of ways. In general terms, it includes
any company using technology to
increase efficiency and bring about
change within the agricultural world.
Ag-tech helps drive the best yield
for the lowest amount of input and
requires constant innovation, spark-
ing growth among this new category
of technology. The investment world
has seen this potential for growth
and responded by increasing invest-
ment in ag-tech by 170 percent in
2014 with $2.36 billion invested
across 264 deals.
The first reason Colorado is poised
for ag-tech growth is because of our
agricultural foundation. Some older
Coloradoans may like to reminisce
about the “cow town” days, but the
truth is the agricul-
ture industry still
is alive and well in
industry contrib-
utes $40 billion and
provides 173,000
jobs annually.
A second factor
complementing the
growth of ag-tech
is the fact that the
state is already a
target for tech capi-
tal. In 2014, $488.5
million was invest-
ed in tech-related
Colorado compa-
nies with $215.6
million infused in
fourth-quarter 2014
alone, according to
2015 CBRE Colorado
Tech Book – Chang-
ing Landscape of
Tech Real Estate in
Colorado.
Third, as a com-
munity Denver
has demonstrated
a willingness to
invest in infra-
structure related to its agriculture
and tech industries. This includes
November’s successful ballot mea-
sure to expand the National West-
ern Complex, home to the National
Western Stock Show. Just south of
the complex, another investment
is underway as renovations have
begun on Brighton Boulevard. Often
positioned as the next gateway to
downtown, Brighton Boulevard and
the surrounding River North neigh-
borhood are a hotbed for Denver’s
startup and tech culture. The area
presents an interesting convergence
of Denver’s agricultural history and
its innovative tech scene.
Finally, Denver is well positioned
to embrace the industry because of
our innovative and supportive tech
culture and desirable talent pool.
“There are so many free or inex-
pensive programs, organizations and
mentors available to people looking
to get into tech in this state in addi-
tion to grants through programs like
the Office of Economic Development
and International Trade,” said Robert
“RT” Barcik, from Fresh Cow Man-
ager, who uses new technology to
improve the health and efficiency of
dairy and beef cows. “These resourc-
es help tech companies grow much
faster.”
The supportive startup culture –
combined with the overall growth
of Denver’s economy and the state’s
reputation for work-life balance – is
attracting a boom of educated work-
ers. Denver’s high-tech job market
grew by 10.7 percent from 2012 to
2014, according to the 2015 CBRE
Tech Talent Report, which mea-
Hadley Cox
Vice president,
Occupier Advisory
and Transaction
Services, CBRE,
Denver
Drew Thomas
Sales assistant,
Occupier Advisory
and Transaction
Services, CBRE,
Denver
Leasing Market
Denver is poised for growth in agricultural technology, thanks to its agricultural roots,
interest from capital investors, infrastructure investments and talent pool.
