Denver didn't rank as well because of relatively highconstruction compared to household creation and employmentgrowth.
"Sellers continue to hold the upper hand in 2004," says Adam P.Christofferson, regional manager of Marcus & Millichap's Denveroffice. "Investors prefer the southern portions of the metro, wherevalues are supported by the enviable demographics created by thepresence of huge master plans, such as Highlands Ranch, The DenverTech Center, Inverness and Meridian, not to mention the housingexplosion in Parker."
Marcus & Millichap is predicting the Denver economy willturn the corner and post job growth of 1.5% this year and retailcompletions will ease to about 2.3 million sf this year. Themajority of the pipeline for planned projects will be in thenorthern suburbs and east Aurora.
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