DENVER-The local multifamily rental market appears to be buckingthe trend of a slowing economy and softness in most aspects of thecommercial real estate market. ”With all of the doom and gloomregarding the economy these days, the prognosis for the Denverapartment market is favorable,” says an apartment report formMarcus & Millichap.
It says especially strong submarkets are expected to be downtownand along the US 36 corridor, where the lack of available sites andzoning restrictions, will limit competition.
”Continued low vacancy and solid rent growth will persistthrough the end of the year,” according to the report. ”Even thoughjob growth will slow, enough new jobs will be created this year toabsorb the majority of the new units coming on-line, relievingfears of over buildings in most areas.”
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