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Page 16 — Retail Properties Quarterly — February 2017
Restaurant Trends
D uring recent conversations
with chefs and restaura-
teurs who are competing for
patrons in Denver’s urban
core, I learned that the going is
highly competitive. And it’s no wonder.
Literally dozens of restaurants opened
in downtown Denver’s urban neighbor-
hoods during the past three years, and
surrounding neighborhoods, includ-
ing Cherry Creek, River North, South
Broadway and the Highlands, also
witnessed the grand openings of doz-
ens of new establishments. And many
more are on the way to the central
Denver trade area in 2017.That’s a lot
of competition – and quality competi-
tion, too.
As an outcome of this onslaught
of restaurateurs, chains and talented
chefs at urban addresses many dining
professionals are
beginning to seek
less competitive
neighborhoods to
call home. And they
are quickly learning
that the metro area’s
suburbs are calling
for their unique,
truly local food and
intimate service.
While Denver’s
urban core arguably
has become inun-
dated with creative
chef-driven concepts, the suburbs tra-
ditionally are lacking.The Denver Tech
Center, Highlands Ranch and Lone
Tree to the south; Littleton, Englewood
and Lakewood to the west/southwest;
Arvada,Westminster and Broomfield
to the north; and Stapleton and Aurora
to the east, have residents who are all
wondering why they’re being ignored.
After all, they have an increasingly
sophisticated palate, the available time
to dine out and the disposable income
as well.
Despite the city’s recent and remark-
able population growth, diners in
Denver’s urban core finally are expe-
riencing the wealth of options that
residents of other major cities have
enjoyed for years. However, there are
only so many mouths, so much dining-
out money and so many hours in the
day to go around. And with a consum-
er base that is largely millennial, occa-
sionally “old favorites” can be replaced
by the hippest, newest, coolest place to
check out. Retaining loyal customers
requires consistent quality and service
(i.e., a quality staff).
Many insightful and willing restau-
rateurs are discovering an untapped
customer and revenue source in the
suburban trade areas mentioned
above. In fact, locations including Old
Towne Arvada, Stapleton and the
upscale apartment development along
Belleview in the Denver Tech Center
(named Belleview Station) have all
welcomed the “urban flavors” of some
of Denver’s most notable chefs and
concepts in recent months. Some have
extended their reach as far as Lone
Tree, Broomfield and Golden.These
visionary foodies realized that a person
doesn’t have to live in a downtown
condo or apartment building to enjoy
– and pay for – their culinary creations.
Money in the suburbs is just as green
as the money residing downtown.
The creative dining concepts that
opened in Denver’s urban core during
the past 36 to 48 months have been
incredibly exciting and many have
achieved great things. Many more will
come and succeed in this urban set-
ting. However, there are only so many
new and existing restaurants that can
be supported by Denver’s urban resi-
dents. Restaurateurs would be wise to
take a serious look at suburban loca-
tions as a fruitful place to begin their
new venture.s
Kelly Greene
President, Urban
Legend Retail
Group, Denver
Tony Guard’s successful Los Chingones opened a new location at Belleview Station in the
Denver Tech Center. Money in the
suburbs is just
as green as the
money residing
downtown.