Search
 

'Available' Space Hits 42% in NW Corridor

DENVER-Rental rates have dropped by 25% to 40% and up to 12 months of free rent on a five-year lease are not uncommon in the lease deals that are being signed in the northwest corridor along US 36.

By John Rebchook | Updated on February 25, 2002

DENVER-If you look only at the vacancy rate along the troubled northwest corridor along US 36, it is certainly soft with an overall 25.7% vacancy rate. The vacancy rate ranges from 9.08% in the 377,2420 sf of class-C buildings to 28.8% for the 4.3 million sf of class-A buildings, according to a report by CB Richard Ellis.

But when the ”available space” — which includes space high-tech and telecommunications companies once thought they could fill is included, the vacancy rate rises to 42%, according to the report prepared by brokers Doug Bakke, Frank Kelley and Lindsay Guagnini.

The market didn’t see the increase in subleased space in the fourth quarter of last year that it saw in the two previous two quarters, but the market continues to suffer and the ”damage was already done,” the report notes.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.