Denver Artisan Market The Source Makes RiNo Ripe Real Estate
One of Denver’s most exciting spaces has been open for almost a year and a half, and it has attracted a lot of buzz not only for its wild success, but also for the impact it’s had on the surrounding area. We are talking about The Source, a multi-business Denver artisan market in a renovated industrial building from the 1880s. The Capital Realty Group commercial property experts dissect what has made The Source such an innovative and exciting space, and what effects it’s already having on the River North neighborhood that surrounds it, commonly known as RiNo.
Development in a New District
The Source was a risky venture for its developers and first tenants. RiNo remains an up-and-coming but still gritty part of Denver, and the entrepreneurs were unsure whether or not The Source would attract visitors from outside its less-than-prosperous district. The success that The Source has found in the past months is best reflected in its occupancy: It filled its 15-business capacity within the first two months, and since then, only one of those businesses has left and its space was quickly snatched by another.
What to Find at the Source
The main purpose of The Source is to cover every organic shopper’s needs, from locally sourced food and drink to creative and sustainable art and artists. It’s meant to capture all elements of the artisan boom that Denver has experienced over the past decade. These businesses have been widely praised, finding loyal business in community neighbors, Denverites from farther away, and even between its own businesses. The semi-open space encourages trade and collaboration between the diverse businesses.
Its two sit-down restaurants have also earned acclaim: Comida, a taquería expanding to The Source from its successful location in Longmont, and Acorn, an expansion of a Boulder restaurant that was praised in a recent New York Times report about traveling to Denver.
Continue Growth Expected for the RiNo Neighborhood
Part of RiNo’s potential before The Source was created by The Source’s same developers, the Zeppelin family, whose Taxi campus of office space marked a bold (and successful) inroad into undesired Denver real estate. At its minimum, The Source was conceived as a provider for the more than 40 businesses in Taxi. Since The Source has stretched much wider than that, more plans for expansion—a parking garage and apartment building built by the Zeppelins, as well as an enormous expansion of Great Divide Brewing Company—are already underway. Thanks to The Source (and the Zeppelins), RiNo may become Denver’s newest hot-spot, and neither its developers nor its visitors want it to lose its uniquely gritty, industrial charm.
How To Use This Information
Capital Realty Group keeps an eye on the Denver commercial real estate trends so that we can give you the best market strategy and values. When a Denver artisan market like The Source opens up, it can shake up the real estate market in unpredictable ways. For more information and insight about Denver real estate, call Capital Realty Group at 303-573-0377 or contact us online.
What new big thing would you like to see in RiNo?
Categorized in: Amazing Spaces, Companies, & Cultures
This post was written by Capital Realty