Just when you think the insanity that is Denver's housing market can't go on... it does. Then one day it stops, quietly. The party ends.
I just haven't seen much of THIS
in Denver of late.
Jun 30, 2015 by Hayley Ringle, Phoenix Business Journal
Fast-growing human resources tech company Zenefits is opening a second Phoenix-area office in Tempe this fall, and plans to hire another 700 employees. The San Francisco-based company will move into 135,000 square feet on five floors of the new Hayden Ferry Lakeside 3 off Tempe Town Lake. Zenefits signed a 10-year lease for the Parkway Properties Inc.-owned building, which is under construction now.
Zenefits moved into a nearly 100,000-square-foot office at the Galleria Corporate Centre in Old Town Scottsdale in November. It was the first major expansion beyond its San Francisco headquarters.
Zenefits is considered to be the fastest-growing software-as-a-service company in history. In May, the company announced it had raised $500 million in Series C funding and has a $4.5 billion valuation.
Zenefits started in 2013 and has more than 10,000 business customers in 48 states.
There was also this announcement
As DriveTime Automotive Group Inc. prepares to move its Phoenix headquarters to a new Tempe office and hire 650 employees within the year, the U.S.’s largest used car dealership also was recognized as a best place to work for information technology employees.
It's a relatively small sample size and just because Denver's growth isn't always so visible doesn't mean it's not there. Clearly it has been.
Yes, Denver has typically been somewhat less affordable than many places but at current levels... well it's good for those that have been there awhile and own real estate already. But for newcomers or those that haven't yet bought it's miserable.
Denver doesn't seem to have the strong economic drivers of the Bay area or Seattle, Austin etc. The Google/Facebook/Apple's of the tech world seem to be skipping over Denver for the most part.
It just seems logical that Denver will face a shrinking pool of companies willing to seriously consider the Denver metro area. If you're a growing company that wants to expand and be west of the Mississippi why not anywhere in Texas, Phoenix, Salt Lake City, Las Vegas, Reno or Boise where the cost of doing business is much lower?
Ultimately it's your job base that matters. Renters can pack up and move on a dime.