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Big Name in Denver Commercial Real Estate Still a Mile High

We pay attention to all aspects of commercial real estate in Denver. Every building is unique, of course, but to paraphrase Animal Farm, some buildings are more unique than others!

There is, after all, only one Mile High Stadium.

There's only a small percentage of commercial real estate structures in any city that even have a name that's different from the address, and even fewer where businesses pay real money to get that name added to a building.

That's why this story about the naming of the footballs stadium is so interesting.

Consider just these financial terms as reported in this story from The Denver Post's Andy Vuong:

Dick’s reportedly agreed to pay $40 million over 20 years for the naming rights to Dick’s Sporting Goods Park. Sports Authority has agreed to pay $150 million over 25 years to place its name on the home of the Denver Broncos, a deal that still needs approval from the stadium district.

With numbers like that, it's no wonder that there's a lot of attention paid to just the naming rights issues. These retailers are paying for naming rights what some people pay for actual buildings!

With the naming rights, there's a representative for the retailers that want to buy those rights, and then of course the Broncos and the stadium district are all well represented.

Most tenants, however, don't have any representation. That can lead to big trouble in a complicated world of commercial real estate. If you'd like to explore the idea of someone working on your behalf as a tenant representative, please contact us, even if naming rights are not on your agenda.

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