Jerrold Bregman Discusses Denver’s Declining Office Real Estate Market with Colorado Public Radio
Jerrold Bregman recently spoke to Colorado Public Radio about Denver’s office property values, which have reportedly fallen by 10 to 25 percent since their last assessment two years ago.
Jerry explains that office values could continue to drop, given that buildings eventually have to be sold to a new owner when landlords default on their mortgages.
“The big picture is that the owners are losing properties and then the property is going to be ultimately resold,” he tells CPR. “If supply goes up, the price is going to go down.”
However, he adds that there is a silver lining to this decline – prices will eventually fall enough to entice investors to use the land for other things, meaning that new opportunities in the real estate market will appear.
“At some point, the market will respond to the economics … And that presents an opportunity,” he concludes.
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