The Downtown Denver Partnership is working to evolve Downtown into a regional retail shopping destination. As part of that effort, they are working to enhance the existing mix of retailers by attracting new regional, national and international retailers to Downtown.
With an increasing residential population, record numbers of tourists and conventioneers, and the highest concentration of employees in the Rocky Mountain Region, Downtown Denver offers a strong retail environment with great potential for growth. Downtown is a social hub with more than 300 restaurants and bars to attract visitors, residents and employees. Outdoor cafes thrive in the Colorado sunshine. The 16th Street Mall FREE MallRide provides convenient access to retail and restaurant locations for nearly 50,000 passengers each day.
The existing residential population of 65,974 (within a 1.5-mile area) is projected to grow to 100,000 by 2030; the 115,020 daytime workforce will increase to 147,285 by 2030; there are 1.75 million hotel room nights and 58,000 combined number of students, faculty and administrators at Downtown’s Auraria Higher Education Center.
Retail stores Downtown: nearly 1,000
Retail vacancy: 4.4 percent
Total square feet: 3.2 million
Median rental rate: 23.75 NNN
SALES TAX REVENUES
In 2012, Downtown Denver generated 7.6 percent of all citywide sales tax collections, up 9.7 percent from 2011 collections. Sales tax revenues from establishments along the 16th Street Mall typically make up about 32 percent of the Downtown total.
Retailers are quickly realizing the untapped potential of Downtown Denver:
H&M recently opened its first store in Colorado, a 21,000 square foot, two level flagship store at the Denver Pavilions at 16th Street and Glenarm Place.
Yard House recently opened a 10,500 square foot location at 16th Street and Tremont Place.
Forever 21 recently expanded and reopened a 33,000 square foot, two level flagship store at the Denver Pavilions at 16th Street and Glenarm Place.
We invite you to learn more by checking out Downtown Denver Retail’s Best Kept Secret.
Check out Downtown’s retail districts and available spaces on our interactive map.