Positive News February 2009

We’re Number One: The Pew Research Center's new survey says, "Denver is the most desirable city in America!" Forty-three percent of those in the survey say Denver was the city they would most like to live in if they had a choice of living in the nation's top 30 cities. In the top five Denver was followed by Seattle, San Diego, Tampa and Orlando. The bottom five, all east of the Mississippi were Cleveland, Cincinnati, Kansas City, Minneapolis and Detroit. http://www.kdvr.com/news/kdvr-denver-top-city012909,0,4773717.story

Schwab to add 500 jobs in Douglas County: Charles Schwab Corp. will bring 500 new jobs to Colorado by 2011, Gov. Bill Ritter announced Thursday January 15th at the state Capitol. http://denver.bizjournals.com/denver/stories/2009/01/12/daily55.html?surround=etf

Existing-Home Sales Show Strong Gain In December: Existing-home sales rose unexpectedly while inventory declined, led by a surge of sales in the West, according to the National Association of Realtors® report released January 26th. http://www.realtor.org/press_room/news_releases/2009/01/ehs_shows_strong_gain?LID=RONav0021

CSU, CU economists - Colorado’s recovery could start as early as summer: Colorado went through a bad economic year in 2008 and can expect more of the same this year, but there are signs that a recovery could start as soon as summer, a pair of Colorado’s top university business economists agreed Wednesday.
http://denver.bizjournals.com/denver/stories/2009/01/19/daily20.html?surround=etf

Creative Foam moving into Longmont: Creative Foam, a designer and manufacturer of foams and plastics for the automotive, medical, and composite markets, announced in January 2009 that it is leasing 70,000 square feet in Longmont. The Michigan-based company is expanding in Colorado to service Danish wind turbine manufacturer Vestas Wind Systems. http://www.metrodenver.org/site-selection/news-deals

Fannie Mae to Loosen Refinancing Rules: Fannie Mae will loosen rules for homeowners seeking to lower their mortgage payments by refinancing. The District company, which accounts for more than 40 percent of the $12 trillion in U.S. residential mortgage debt, is seeking to break a "logjam" in refinancing and allow more homeowners to take advantage of near-record low interest rates, according to Brian Faith, a spokesman for Fannie Mae, which like its rival, Freddie Mac, is under government control. http://www.washingtonpost.com/wp-dyn/content/article/2009/02/05/AR2009020503157.html

MATT CALL
Brokerage Services
303.339.2550
Matt.call@edgecommercialproperties.com
www.edgecommercialproperties.comm

February 2008

Denver Faring Better than Most Metro Commercial Markets

See the Business Section cover story from the Denver Post article Sunday February 1, 2009 ....at Edge Commercial Properties we maintain a positive attitude and outlook while also observing real data from the market place to reach conclusions about where the market is headed. Although there are some negative points to the Post article the theme is encouraging, Denver and Colorado generally are faring better than the rest of the country. Our vacancy rates for commercial space and delinquency rates on commercial notes are lower than the most of the country. For our clients in the Castle Rock market we have included a few recent stats from the CR commercial sub-market. In our office we have experienced more activity in January than we did all of 4th Quarter '08… 2009 may not be a banner year but we are encouraged by some early signs to start.

As of December 16, 2008 Avg
Castle Rock Vacancy Rates
INDUSTRIAL 7.4%
OFFICE 9.2%
RETAIL 4.9%

Avg Castle Rock Lease Rates
INDUSTRIAL $9.63 NNN
OFFICE $23.91 FSG
RETAIL $21.44 NNN

http://www.denverpost.com/businessheadlines/ci_11595663http://www.denverpost.com/businessheadlines/ci_11595663