Colorado-Real-Estate-Journal_377665

T he real estate landscape has always been shaped in part by social trends, and many businesses continue to see Boulder as a community that is advancing both socially and eco- nomically. Colorado Gov. Jared Polis describes Boulder as a “progressive college town.” Kimbal Musk, notable entrepreneur and owner of The Kitchen Restaurant Group, elabo- rated on this sentiment: “Boulder is not the small town I had expected. It is a vivacious community of sophisticated people with the same aspirations and expectations you find in New York, Los Angeles, and San Francisco.” Now more than ever, we are experienc- ing a shift in Boul- der's culture led by Coach Prime and the University of Colorado Buffaloes. Areas of Boulder are experiencing an uptick in com- mercial real estate activity because of the “Prime effect.” The presence of Coach Prime on campus has gen- erated a renewed interest in the university housing and retail sec- tor known as The Hill. The uptick in interest in the office and retail availability in this area directly cor- relates with the renewed hope for the university’s football team and the evolving culture in Boulder. However, it seems that the Prime effect can only reach so far as we continue to see office space, par- ticularly in the downtown area, struggling to bounce back from the effects of COVID-19. For many regions nationwide, including Boulder, the challenge is adapting to the evolving office market post- pandemic. The current labor market dynamics lead to more power in the workforce, with many people now expressing the desire to work remotely but also have the option of working from an office when neces- sary. During an interview at a Flex- Jobs-sponsored event, Ken Matos, vice president of research at Life Meets Work, discussed why flexibil- ity is essential to workers today and how remote work improves perfor- mance management strategies. “People today value workplace flexibility and remote work because it allows them to focus their ener- gies on work and life as opposed to commuting or other complications due to geography,” Matos said. In many tech hubs, such as down- town Boulder, employees ques- INSIDE Saying vs. doing PAGE 10 Factors driving the gap between what office workers say and do December 2023 PAGE 17 PAGE 25 New normal? Denver’s industrial market was bound to cool down Headwinds Self-storage deals take longer, but are getting done Please see Patterson, Page 12 Torrey Patterson Broker associate, Dean Callan and Co. Boulder ‘vibe’ continues to draw companies to the neighborhood Deepak Adhikari, Unsplash