Earlier this month, Colorado business leaders predicted solid growth in the state’s economy. It was the best news in three years, according to experts cited in a University of Colorado press release.
But taking a look at the vacant storefronts in Cherry Creek North, the economic recovery obviously has a ways to go. As The Denver Post writes, “there are about as many retailers opening stores as there are closing, and developers are gearing up for the next round of redevelopment in the neighborhood.”
Despite the turnover in retailers, landlords have largely kept rents at the same level, and if business owners can’t find a storefront for the price they want, spaces may remain vacant.
Meanwhile, in Colorado Springs, export-related jobs in the area grew slower in the five years approaching 2008 than in any of the nation’s 100 largest metropolitan areas, according to a study released by the Brookings Institution (via The Gazette).