Parker's vacant retail space worries business leaders

Some say the rents for Parker retail space may be too high, but the town will host an event for real-estate brokers Sept. 30 to promote what's available.

Parker's vacant retail space — there are more than 65 spaces for rent or sale — is concerning community leaders and Realtors.

"It really is a black hole of retailing," said Tim Danahey, a Parker community activist.

There are 15 buildings for sale, according to the third- quarter 2010 Real Estate Resource and Development Report from the Parker Economic Development Council.

"What I'm afraid of in Parker from just looking at all the vacant storefronts is that there will be owners that walk away from their buildings because they don't have tenants," said Carole Schumacher, executive vice president of BRC Real Estate in Parker, which handles commercial properties.

Schumacher and Danahey say rental rates for retail properties are too high. She said that could be simply because building owners or developers don't understand what the market is like.

"Is Parker an island unto itself? I think some people that own real estate out there think that it is," Schumacher said. "It's their world, and they don't go out there very much."

Mitch Trevey, executive director of the PEDC and owner of a commercial-real-estate company, Trevey Co. LLC, said Parker has been slow to drop its rental rates but that many landlords also are in a bind because of the weak economy.

"Some of them are accountable to investors or partners, etc., who are not necessarily so willing to allow them to drop the rates just to get somebody in there because that also affects property value," Trevey said.

Joe Maxwell, co-founder of the Metro Parker Small Business Alliance, said he thinks business owners sometimes need to be smarter when they sign leases.

"I think it's a deeper problem," Maxwell said. "Any time you start failing in business, you start looking for a scapegoat: 'My rent is too high.' " (Other excueses may include, "My CAM charges are too high, or we need a URA, or the Metro District did it." - MS)

Becky Hogan, Parker's economic-development director, said there's not much the town can do about the rents, but she thinks the rents are very competitive.

On Sept. 30, the town of Parker will be participating in a virtual broker tour at the Wildlife Experience, which will show about 100 commercial-real-estate brokers properties in Doug las County.

"It's a matter of educating people (on) what's available," Hogan said. "We haven't really done that down here in the south metro Denver area. And that's always going to help. It may not help that next day, but it's always going to help in the future."

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