Russell Gruber – Top Small Shop Broker 2024
Please share highlights of your biggest, most memorable deal(s) executed in 2023 and detail on how the deal(s) came to fruition:
Pinning down a single deal for a year like 2023 is tough. Honestly, I’m glad I was able to close the deals we did in 2023. All deals in 2023 are a real testament to the companies trying to grow in Denver despite constant challenges all across the board. I believe any broker you ask would agree with that no matter the trade. We are very lucky to be in commercial real estate in an amazing town. That said, it certainly doesn’t mean there are any easy deals. This past year presented the most hurdles I’ve seen in 17-plus years in this business. It felt like each deal required so much more attention and nail biting then I had ever experienced before.
What were the most significant challenges you encountered in Denver’s CRE landscape over the past year and how did you overcome them?
2023 was a very unique year for me as traditionally, I’m involved in a lot of industrial sales. The constant rate increases really slowed the industrial transaction volume. By years-end, it seemed like anyone thinking of buying either signed a lease or decided to punt on their purchase.
Using your crystal ball, what will be the biggest surprise CRE story in the Denver market in the year ahead?
I’m not much for crystal balls. That said, I suspect a few new major Industrial assets will trade hands as they are completed and rates decrease.
What is your commercial real estate superpower?
Connecting with clients. My customer/clients are my real friends and I’m blessed to hang out with them on the job and off.