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Office Vacancies Remain Static

DENVER-Factoring in sublease space, overall market vacancy inches up from 15.46% in the second quarter to 15.86%, according to the Denver office of Jones Lang LaSalle, with rents falling from $19.18 per sf to $18.55 per sf.

By John Rebchook | Updated on October 08, 2001

DENVER-Vacancies in the Denver metro office market remained relatively static between the second and third quarters of 2001, according to figures released by the Denver office of Jones Lang LaSalle. Overall market vacancy inched up from 10.52% at the end of the second quarter to 10.56% at the end of the third quarter.

Factoring in sublease space, the relative numbers were 15.46% rising to 15.86%, indicating that the vacancy rates may have hit bottom.

These percentages are reflected in the small overall market absorption of 113,549 sf at the end of the second quarter turning into a negative absorption of 260,261 sf at the end of the third quarter.

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