Denver moves up on list of best places for property investment, ahead of Chicago and Miami

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The 16th Street Mall. (Kevin J. Beaty/Denverite)  sixteenth street mall; 16th street mall; cbd; central business district; downtown; kevinjbeaty; denverite; colorado; denver;

The 16th Street Mall. (Kevin J. Beaty/Denverite)

Property investors see Denver on par with Boston and Toronto as places for buying or building shopping centers, offices and other properties.

The Mile High City was in a three-way tie for the No. 8 spot of the “Best Metros for Investing,” according to the CBRE Americas Investor Intentions Survey 2017. Denver moved up two spots from last year’s ranking.

“Denver posted its seventh consecutive year of growth with $12.9 billion in investment sales in 2016 — a 23 percent increase year over year,” said Pete Schippits, senior managing director and market leader for CBRE in Colorado, in a statement.

Schippits said he doesn’t see investment slowing down anytime soon.

Los Angeles is still the top-ranked metro for property investment, followed by Dallas and Fort Worth, Texas and New York, according to CBRE.

For the survey, CBRE asked nearly 1,000 investors focused on the Americas about their actions in 2016 and predictions in 2017.

Most respondents (38 percent) view the industrial sector as the most attractive place to buy or own in 2016 ahead of multifamily buildings like apartments (28 percent) and offices (18 percent).

Only 8 percent of investors cited retail as an attractive option in 2017.

Business & data reporter Adrian D. Garcia can be reached via email at agarcia@denverite.com or twitter.com/adriandgarcia.

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