The Denver market remains an important hub for the aerospace industry and continues to attract tech firms seeking relief from West Coast lease rates. E-commerce has boomed as a result of the pandemic, and the demand for last-mile and logistics space remains voracious, according to Marcy Moneypenny, Denver principal, managing director, Avison Young.

“Overall, the low rate of foreclosure remains a positive sign for Denver’s eventual recovery, and large national and international investors see Denver as a place to attain greater yield than on the coasts, which bodes well for long-term prospects,” Moneypenny says. “Though the first quarter of 2021 has felt more like the fifth quarter of 2020, we’re seeing manufacturing and distribution-focused tenants continue to expand and seek more space. Banks and debt funds have been active in construction financing for new industrial and multifamily developments. Additionally, 1031 Exchanges remain very popular with investors.”