We whine and we cry and we carry on about the "high" prices of prime real estate in Memphis.
Denver has just seen a record commercial transaction, at $531 per square foot! A retail property known locally as Clayton Lane in the Denver shopping district known as Cherry Creek North just sold for $97 million which is about $531/sf. The 182,000 SF property is believed to have commanded the highest per square foot price ever paid for a retail property in Denver. The property is anchored by Whole Foods and Crate & Barrel.
So next time a prime piece of dirt in Memphis goes "through the roof" at $30 per square foot, thank your lucky stars for the bargains to be found in this great city.
A special thanks to Carrick Hill of Crye-Leike Commercial for his input in this article.
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