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Ray White, Travis Hodge
Vice President, Associate
JLL has been exclusively retained to present Arabella, a 156-unit multifamily investment opportunity located in the heart of Denver’s Southeast Business Corridor
- Irreplaceable Location – The Southeast Business Corridor is home to seven of the 10 Fortune 500 companies headquartered in Colorado. Over 438,000 people work in this corridor, making it the largest employment center in the Rocky Mountain region. Responsible for almost 30% of all of Colorado’s earnings, south metro Denver is anchored by the master planned office parks along the I-25 corridor which include the Denver Technological Center, Greenwood Village, Inverness Business Park, Meridian International Business Center, and Highland Park.
- Compelling Future Demand – Denver is the fastest-growing large city in the country, according to census data. The Denver metro area population grew by 9.23% between 2010 and 2016. During that same time period the population within one mile of Arabella grew by over 14%. This is expected to continue in the future as ESRI projects the 2016-2021 growth for metro Denver to be just under 9%, while the area closest to Arabella will grow at over 13%. This population growth as well as continued job growth and the reduction of new construction near Arabella will continue to fuel future rent growth. There are currently 63 companies in the market for over 2.1 million sf of additional workspace in the Southeast Business Corridor. This will result in approximately 10,000 new jobs in the immediate area over the next several years. Additionally, there are currently over four million square feet of new office space in the development pipeline resulting in a future demand for over 3,878 new apartments.
- Direct Access to Denver’s Transit Corridors – Arabella is located at the junction of Interstates 25 and 225, providing easy transit access to many of Metro Denver’s arterial transit routes and all Colorado has to offer. Less than a 5-minute drive and 17-minute walk from Arabella is the Belleview Station stop of the Regional Transportation District’s (RTD) light rail system. RTD’s light rail system includes 57 stations on 10 lines and reaches major metropolitan areas outside of the Denver Tech Center as well, including Downtown, South Denver, and University of Denver. Hot-spots such as the Theater District, Convention Center, Union Station are all accessible via the Belleview Station. Whether residents are traveling early in the morning, late at night, or during the typical rush hour, light rail has them covered, providing access to major employment centers and entertainment.
- Exceptional Demographics – Within three miles of Arabella, the average home value exceeds $465,000 and the average income is more than $106,000. This is due in part to a highly educated population with over 61% of residents possessing a college degree. Very few multifamily investment opportunities in Metro Denver can offer similar demographics.
- Rent vs Own – The market for entry level single-family homes in Denver remains competitive and in short supply, making renting very attractive to new residents. Single family for sale home inventory remains extremely low (4,921) and there were only 191 single family homes less than $300,000 on the marketing at the end of March 2017.