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INSIDE T he financing game has changed in Denver. Buildings are changing hands quicker than ever and property own- ers expect returns. As new construction comes on the market, we see tenants migrate to new office buildings as vacancy rates increase in the old. At the same time, the major trend in workspace planning and design is density. Private offices are getting smaller and, in some cases, going away all together. Technology has decreased the need for paper stor- age, and rent alone, averaging $26.56 per square foot in the Denver metro area, is enough of a reason for ten- ants to reduce their square foot- age. Adding more people per floor has never been more popular, but it has significant impacts on building mainte- nance. More people means increased internet and eleva- tor usage and that your old heating, ventilation and air-conditioning sys- tem may no longer cut it. Even with rents at an all-time high, vacancy rates are not declin- ing. Buildings need to remain com- petitive, and, as these trends con- tinue, older buildings are put at an increased disadvantage. Those looking to compete with newly constructed Class A and B buildings have two options: com- pete on cost or make the property more attractive to tenants. Those who choose option two must then predict which amenities and renova- tions will provide the biggest return on investment. To make that deci- sion, property managers can start by answering three questions: What is the location? What is the competi- tion doing in the market? What is the tenant/employee demographic? • Location. The location of a proper- ty can instantly disqualify a property from a tenant’s search. But, since locations are not easily moveable, property managers must adapt and provide solutions to the potential drawbacks of their location. Properties downtown are naturally The Energize Denver programmakes building data accessible with an interactive map. Energy Star map PAGE 12 Properties should strive to build their brand with strategic, thoughtful wayfinding. Helpful wayfinding PAGE 16 Select the best deicing product to protect your property, landscape and people. The deicing science PAGE 22 Please see Page 29 April 2018 Older buildings can remain competitive CoStar 10065 E. Harvard Ave. in Aurora got an entire new façade in order to modernized the look of the property. Rick Door Managing principal, Cresa, Denver