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Northwest Corridor Vacancies Explode to 32%

DENVER-Chris Ball, a Fuller and Co. broker, tells GlobeSt.com he expects the vacancy rate to approach 40% within 30 days, and maybe 50% before the office market in the corridor between Denver and Boulder starts to recover.

By John Rebchook | Updated on July 30, 2001

DENVER-The metro area’s northwest corridor’s office vacancy rate skyrocketed from 3.8% at the end of 2000 to 32% at the end of June, shows a mid-year report by locally based Fuller and Co., a full-service commercial real estate firm. And the vacancy rate promises to get worse before it gets better, as telecommunication firms along the corridor between Denver and Boulder continue to dump subleased space on the market, says Chris Ball, a Fuller and Co. broker.

Indeed, within 30 days he expects the vacancy rate to approach 40%. And it may hit 45% or 50% before it starts to recover, he says.

Doug Wulf, another broker at Fuller and Co., agrees. He tells GlobeSt.com that it is extremely difficult to gauge the true amount of empty space along the corridor, the third largest submarket in the metro area.

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