Rent vs Buy in Denver>Question Details

Jenna Francis, Home Buyer in New Haven, CT

I want to open a travel agency in Denver. Can you recommend me a good office in a hot spot that is quite cheap at the same time?

Asked by Jenna Francis, New Haven, CT Fri Dec 13, 2013

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As a broker and PT home-based travel agent I hope I can provide some insights.

In metro Denver most bricks and mortar travel agencies are based in office buildings. While in the past we did have many street-fronting agencies, as the industry has changed so too has the pro-forma concerning space requirements. As a broker in NY as well as CO I am well aware of the old-line agencies i.e. Valerie Wilson, ProTravel, Liberty and so forth have commercial/street locations. However these are in areas of high-density and pedestrian traffic.

In Metro Denver you may wish to concentrate on areas of high pedestrian and/or high vehicular traffic to enhance your existing book of business. If you are concentrating on deluxe and luxury travel, consider Cherry Creek North where occasionally smaller spaces come available in mixed use buildings. I am also a fan of neighborhood retail/office with high-end demographics i.e. Old South Gaylord, Old South Pearl and others for which an experience broker will know how to contact landlords direct. Many of these options have retail on the first floor and office above.

Concerning office buildings, I always suggest a ground floor location when possible to capture not only the office tenants but visitors as well. Please note with traditional office buildings, you may have some issues with weekend access.

Strip centers can be a good option if it offers complementary tenants i.e. those for which your target demographic also shops. There are such strips on Leetsdale, Colorado Blvd (check out Century 21) and others. Rent will depend on visibility and location, however your business most likely will be somewhat targeted and not need direct street visibility yet signage would be important.

Finally putting on my business consulting cap, consider auxiliary amenities or partnerships including luggage, adaptors, tags, guides and other travel associated products. I know I have personally been stymied trying to find TSA approved luggage locks out here or unique name tags for luggage.

If I can be of any assistance as I partner with a commercial broker as well, my contact information is below as well as additional links.

Joseph Sobin, Broker Associate, ERA Herman Group,Cherry Creek North.
Direct Email: Joseph.Sobin@ERA.com
Phone: 303-756-2999

Travel Column: http://www.examiner.com/travel-industry-in-denver/joseph-sobin
0 votes Thank Flag Link Fri Dec 13, 2013
Depending on your type of lifestyle, there is good business all around the Denver metro Area, Closer to the mountains and Downtown would be great options, however they may be at your max on A lease. I think it would also depend on where you would want to live? or is it just the business happenning here? My company has a great commercial department and we would love to help you out .
Tim Walker
303-547-2437
tim@homesbyhpi.com
http://www.homesbyhpi.com

Our Commercial contact person is Melanye Phipps 303-913-5325
melanye@underanyroof.com
I hope this will get you started and please feel free to contact either of us!!!
Thanks
Tim Walker
0 votes Thank Flag Link Fri Dec 13, 2013
I would first ask who is your target client? Is it families, singles, empty nesters, etc? Does your service have a niche - vacations by bike, vacations to South American? Are you relying on foot traffic or leads from the internet? Can you share office space with another business? Are you the only one working there or will you have others? Most people I know book everything online but there is always a subset that will want more services. Once you define your business plan, I think that will help dictate what kind of space you need, what part of town and how much you should spend per month. Generally the areas that are hot - Cherry Creek, Uptown, Downtown, Golden Triangle, Highlands, etc are not cheap on the price per square foot. Good luck!

Nina Kuhl
Cherry Creek Properties LLC
0 votes Thank Flag Link Fri Dec 13, 2013
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