centennial, colorado market study

Client: Brue Baukol Capital Partners Category: Market Analysis

In late 2020, PGAV conducted a market analysis in the city of Centennial, Colorado in the Denver MSA. The Denver Metropolitan Statistical Area has experienced accelerated growth in both its population and economy over the last twenty years. Within the last decade, the MSA has led the State in population growth. Since 2010, the MSA has added over 445,000 residents. The MSA has also experienced growth in employment, retail spending, property values, and building permits. As a result, Centennial has seen strong growth in recent years. PGAV conducted a retail, hotel, residential, and office market analysis of Centennial and the surrounding area.

The project included a retail market analysis which used data to review the local and regional consumer demand for retail, looked to trends nationally, used mobile-phone tracking data to define the trade area, evaluated the impact on retail from new residents, and described how the addition of retail space fits in with and might compete with existing retail.

The market analysis also included a review of existing hotel supply and demand, understanding occupancy, average daily rates, and revenue per available room. The residential analysis included a review of existing product and an analysis of potential market reception of new units. The office market analysis reviews area industrial and office developments, comparable statutory values, lease rates and occupancy levels to ascertain the general condition of the local market and to understand the potential of new industrial and office buildings.