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Latest NW Corridor Report Pegs Vacancy Rate at 32.5%

DENVER-Tenants needs are changing in the northwest corridor. The latest report puts the open space at 32.5%. A year ago, high-tech tenants sought 30,000 sf to 50,000 sf. Today they're looking for 10,000 sf to 20,000 sf.

By John Rebchook | Updated on August 02, 2001

DENVER-The office vacancy rate along the US 36 corridor between Denver and Boulder–Colorado’s version of Silicon Valley–has soared from less than 1% at the end of 2000 to 32.5% now, according to a new report by Commercial Colorado, owned by two former Cushman & Wakefield brokers who specialize in the corridor.

A similar report by Commercial Colorado brokers Chris Phenicie and David Hart also show the vacancy rate at 32%. But, brokers at Fuller and Co. predict the corridor will soon hit a 40% vacancy rate and may top out at 50% before starting to subside. Both companies agree that the market is moving so fast that it is hard to keep track of it.

Phenicie and Hart say that the market will remain mired in the 31% to 33% range for the next year or so, but won’t get any worse. They’re relatively optimistic because of increased demand from prospective tenants in June and July.

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