CREJ - Office Properties Quarterly - January 2015
Welcome to the inaugural issue of Office Properties Quarterly. This Colorado Real Estate Journal special section will highlight and focus on industry trends, leaving the transactional news in the Journal. The goal of this publication is not to be numbers soup. Instead, we’ll take the big numbers and ask why they matter. We’ll also examine trends specific to design or locations. What’s happening in the central business district can be very different from what’s happening in Colorado Springs, or even in the Denver Tech Center. We'll ensure each issue is well rounded, examining the market from a variety of angles. In this inaugural issue, you’ll notice sections devoted to the overall market outlook from the financial, investor and leasing perspectives. We also have contributed articles from authors discussing specific submarket leasing activities, which begins on Page 7. Other industry insiders weigh in on a variety of topics throughout the issue as well. As CBD real estate is snatched up, the number of parking spaces is dwindling. A feature beginning on Page 14 examines this phenomenon and challenges the assumption that fewer parking spaces is a bad thing. And as milliennials enter the workforce in larger and larger numbers, the traditional parameters of office space are adapting. Features in this issue highlight how buildings are creating more milliennial-based amenities and interior designers are embracing the power of choice. A case study looks at how some of these trends come to life in the new administrative building at the Denver Art Museum. With the price of oil dropping at press time, many wonder what kind of impact the drop could have on the Denver office market. Read about the potential effects on Page 12. Spoiler alert: While the energy industry plays a large role in the downtown office market, Denver’s office tenants are much more diverse than any single industry. Putting this issue together has been a real treat. As someone new to the industry, I’ve been impressed with how hepful this community has been. I want to say a big thank you to all the authors in the publication as well as those who met with me for background information and interviews. This issue would not have come together without you. After reading the issue, please send me an email or give me a call. Let me know what you liked and disliked, as well as things you’d like to see covered in future issues. I believe reader feedback is crucial, and I look forward to hearing from you. Thanks, Michelle Z. Askeland maskeland@crej.com 303-623-1148 ext. 13