Denver is the largest city and the capital of the state of Colorado. Situated within the South Platte River Valley region of the state, Denver is the largest city within a 500-mile radius, making it a top tourist destination for many Americans in this section of the country. Featuring a variety of economic and cultural opportunities, Denver has been described as a “beta world city” by the Globalization and World Cities Research Network. With a residential population of just under 650,000, Denver is guaranteed to offer both locals and newly arrived business owners with the resources they need to enjoy a thrilling and successful professional life here. Rental properties for lease in Denver, including office space for rent and commercial space for rent, can be found throughout the numerous neighborhood zones of the city.
The median household income of Denver residents is approximately $50,000, just slightly under the state average of $56,000. That being said, the city is currently considered the 18th largest metro economy in the country, due in large part to a well-developed manufacturing and technology sector. Common occupations for residents of Denver include positions in industries ranging from the professional, scientific and technical services to healthcare, accommodation and food service. Unemployment levels in Denver are slightly above state averages, although they remain largely in line with national trends. Denver’s income levels are somewhat misleading, due in large part to the fact that the more affluent individuals working within the city limits often live outside of Denver proper in a variety of suburbs bordering the city. In 2013, Forbes rated Denver sixth on their list of the “Best Places For Businesses and Careers.” Denver is also home to the University of Colorado at Denver, which has proven itself to be a significant employer in the region for individuals working in many industries and professions.
Although Denver has gained a reputation for tourism and thrilling outdoor excursions, the city boasts a surprisingly vibrant economy that is far from dependent on summer tourist activity. In addition to this bustling infrastructure, Denver also features a large number of cultural attractions. Some popular examples include the Denver Art Museum, the Denver Museum of Nature and Science, and the History Colorado Center. Denver has also gained national renown for its outstanding cuisine. Featuring a wide variety of ethnic influences, including particular emphasis on southwest and New Mexico culinary offerings, Denver is guaranteed to satisfy passionate foodies who are seeking an ‘off-the-beaten-path’ adventure. The city is also very pedestrian friendly, and features a large number of walking and cycling trails, in addition to the Denver RTD Light Rail public transportation system.
Denver is also home to some of the region’s more prominent professional sports teams, including the Denver Broncos, the Colorado Rockies, the Colorado Avalanche and the Denver Nuggets. Denver holds the distinction of being one of few cities in the United States that has developed and maintained sports teams in each of the country’s most popular professional sports leagues. Tourists visiting Denver are likely to be able to find a sporting event they can attend throughout the year, regardless of which month they choose to visit the city.
During the Pike’s Peak Gold Rush in 1851, a large number of opportunists found their way to this region of the state and formed what was then known as Denver City. Denver was first officially established in November 1861, following its incorporation as part of the Arapahoe County. The original growth of the city was largely fueled by its use as a supply and resource center for those traveling through on the newly arrived rail lines. Although the closing years of the 19th century saw an increase in crime and corruption, the city emerged from this shroud in the middle of the 20th century, and was officially selected to host the Olympic Games in the summer of 1970. Over the last century, the city of Denver has experienced a significant increase in ethnic diversity, making it a richly entertaining and fascinating city for those who are interested in immersing themselves in world cultures.
As stated previously, the demographics of Denver have continued to diversify over the last century, helping to transform this city into a melting pot of cultures and attitudes. The city currently hosts a Caucasian majority, with substantial numbers of African Americans, Asian Americans and Hispanic Americans as well. According to recent studies, approximately 19% of the local population here currently lives below the poverty line. Of the nearly 251,000 households found in Denver, roughly 35% feature married couples. Denver’s rich academic infrastructure has also helped to attract a substantial international student body. As many of these students attempt to secure professional opportunities in the area following graduation, a growing number of young, foreign-born professionals are finding their way into the cultural fabric of Denver.
As could be expected, Denver continues to evolve and diversify in tandem with the trends found in many of the country’s larger cities. Denver continues to develop its technology infrastructure in an effort to stay current with many of the world’s more popular economic trends. A growing number of individuals are now viewing the state of Colorado and the numerous cities found here as a “go-to” destination, particularly due to the abundance of outdoor opportunities and a lifestyle that is far removed from the hustle and bustle of coastal living.
Depending upon the nature of your business, a variety of locations in and around Denver may prove to be ideal for establishing a business. The city’s downtown area hosts many of the area’s more prominent commercial and financial businesses. For retail owners who are hoping to catch the eye of pedestrian traffic, this is also the best possible location for doing so. Those involved in manufacturing-related enterprises are more likely to find suitable properties on the outskirts of the city, as there is significantly more space available for construction and development here.
Real time and historical data on commercial real estate listings in Denver.
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