Thanks to our partners and friends who made it out to our annual Holiday Partner Event at the Reserve List in Denver last week. There was wine tasting, food, and great conversation. Check out the shots below to see photographic evidence of the good times had by all.
You can view the rest of the photos on our Facebook page:
Thank you to the Reserve List for the amazing space and fabulous selection of wine. And thank you as always to our partners and friends. See you all in 2010!
Denver’s Commercial Real Estate Market –
Better than You Might Think
by Eric Nesbitt, President and CEO, The Nesbitt Group
Despite the uncertainty and unpredictability of the national economy, Denver’s commercial real estate market continues to remain steady, particularly in the office and industrial sectors. Although many local large companies are holding off on major real estate decisions, Denver’s commercial real estate market continues to perform well compared to other markets in the country, where vacancies are higher and rents are decreasing.
Denver office and industrial properties continued to positive absorption of vacant space in the third quarter, while retail space such as shopping centers and malls had negative absorption. Retail space is more consumer-oriented than other commercial property types and, therefore, more affected by the economy and consumer problems such as housing foreclosures. However, Colorado’s improving housing market should benefit the retail sector. The state’s foreclosure rate has shown significant improvement this year, and many analysts believe the Denver-area housing market is ahead of the national cycle for recovery.
Overall, vacancy rates increased for office, industrial and retail properties, but despite this softening, average rental rates increased for all three property types. Metro Denver office space saw its total vacancy rate, including sublease space, increase to 15% in the third quarter. However, average asking office rental rates inched up to $20.99 per sq. ft. per year in the third quarter from roughly $20.60 from the same period last year. On the industrial side, total third-quarter vacancy increased to 7.4%, which is still relatively healthy. Average asking rates also increased to $6.41per square foot from $6.00 per sq. ft. for the same quarter last year. Finally, the total retail vacancy rate continued to increase in the third quarter to 7.5%, but the average asking lease rate still rose to $18.04 per square foot per year from nearly $16.00 for the same period last year.
What does this all mean for you and your business? Despite a slumping economy, companies seeking to lease office or industrial may be surprised that landlords are unwilling to do “screaming deals” to get tenants in their buildings. At least for the time being, rental rates remain stable or continue to rise, and commercial landlords have not been overly impacted by the economic slowdown. Of course, this may change in the next few months or as we head in to the New Year.
For more information on The Nesbitt Group, please click here.
“Smooth, velvety, spicy and lively with a peppery edge to the currant and pomegranate flavors lingering nicely.” With a description like that, who wouldn’t want a taste of Oxford Landing GSM? This was just one of the wines we sampled at our quarterly partner event this past Wednesday. Our president, Michael Doyle found The Reserve List, a shining little venue tucked away on South Pearl Street.
The Reserve List is a fine wine shop as well as a primo tasting facility. With fine art on the walls, black tablecloths, silver trays, and some tantalizing wines; we mingled amongst our good friends and partners. Everyone enjoyed themselves and the company. By the end of the night we had numerous empty bottles, finished another successful partner event and made some new friends.
Thank you to Mēgan from The Reserve List, and thank you to all of the partners who joined us to sample wines.
written by Natasha Martinez, Brand Iron Office Manager
Leading-edge companies are already taking advantage in what seems to be the newest trends in partner loyalty marketing. As you are reading – you’ll learn about Brand Iron’s new corporate identities and new value propositions. What hasn’t changed is our loyalty to our partner network and our desire to continue to develop a vast network of strategic partners. We wanted to share with you a few concepts that have increased our success in loyalty marketing – along with some tangible examples of ways you can use these market trends – today.
Developing Your Network
Developing a community of businesses bound by geography or similar industries/interests is very important in creating a sense of loyalty around your brand. The ideal network will be one that everyone involved will have something to offer and something to take. A devoted partner, one who can speak to the success and quality of your product or service, will come to be your best source of new business.
What you can do today:
· Develop a list of potential partners.
Creating Strength From Your Network
Surveying your customers and receiving their feedback doesn’t have to be a painful and rigidly-formal process. When your have an open line of communication with your current clients and they play an active role in your brand community – feedback can come in many different forms. Using candid and honest feedback from your brand community is the first step in addressing your company’s potential barriers to growth or inconsistencies in messaging or value proposition. Your peers will likewise appreciate your feedback and analysis of their business. As the group gets stronger, the companies become more profitable, and your brand community grows to be more widespread and dedicated to your brand and particular area of expertise.
What you can do today:
· Develop a networking group composed of people you can help and those who can help you.
(Don’t forget to start with Brand Iron.) Take turns leading interactive meetings and
discussions with your group.
We’ll help you create a partner loyalty campaign that gives your brand a sense of community. Contact us today.