The company has been paying $15.50 per sf for its Downtown office space, and rents would have almost doubled to about $27 per foot, she says. Also, the price of parking has risen dramatically Downtown, and increasingly employees had to fight traffic congestion. ''There was a quality-of-life issue,'' she says. ''One of the first things we did was to plot where all of our employees lived, and there was a real cluster of people south of I-70 and west of I-25.''
Annie Warhover, president of the Downtown Denver Partnership, an economic development group, expects other tenants concerned about rising rates to leave the CBD for the suburbs. ''Downtown has some of the most expensive rates in the area, but there are a lot of other companies willing to pay the rates to be Downtown,'' she says.
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