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Thought a $22/sq ft lease in RiNo was nuts, then I toured the building on Blake St
Three years ago I walked away from a 4,200 sq ft spot on Blake St because the ask was $22 per sq ft and I figured nobody in Denver would ever pay that for a warehouse with bad parking. Last month my old landlord pushed my renewal to $19.50 per sq ft in Globeville and a broker buddy made me tour that same Blake St building, which now has a coffee shop and 40 bikes parked inside every morning. Am I crazy for thinking the extra $2.50 is worth it now, or is RiNo really just a hype bubble waiting to pop?
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julia_miller2419d ago
I once paid extra rent just so my dog could have a nicer sidewalk to sniff, so maybe don't take my money advice. But 40 bikes every morning is real foot traffic, not some broker fairy tale. That $2.50 buys you customers walking past your door, which is cheaper than any ad you'll ever run.
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