In fact, Denver is "over-supplied" with investors seeking specific product types, such as grocery-anchored centers and buildings with long-term leases to credit worthy tenants.
"Low-risk assets will experience a bidding frenzy in 2003," Richey tells GlobeSt.com.
Richey says investors believe Denver will rebound faster than most cities.
This year, however, he predicts lenders will experience "manageable" delinquencies and a limited number of foreclosures.
The bid-ask gap for offices will diminish this year, as sellers capitulate, he says.
The Central Business District, he says, will remain as the most stable market.
Also, the volatility in the stock market and the potential war with Iraq will increase investments in real estate, in Denver and across the country, Richey says.
Finally, he predicts that the sales volume will increase by the third and fourth quarters of this year, at the first signs of net positive absorption.
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