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Aurora Office Market Quiet

AURORA, CO-According to CB Richard Ellis' latest numbers, the Aurora office market is more or less stable, with both the direct and sublease vacancy rates rising only slightly in the third quarter of 2002.

By John Rebchook | Updated on October 04, 2002

AURORA, CO-The Aurora office market remained fairly stable in the third quarter, with the direct vacancy rate rising slightly to 19% and the “availability rate,” which includes subleased space also rising slightly to 21.17%, according to CB Richard Ellis.

“While the Aurora office market’s direct vacancy and availability rates are on par with other office submarkets in the metro Denver area, we believe that the narrow margin between [the two], currently at 1.17%, continues to show the strong relative health of the Aurora office market when compared to other office submarkets of comparable size or larger in the metro Denver area,” according to the report.

CB’s Aurora team is headed by Jason Thomas and Phil Sweeney. The Aurora market has about 7 million sf of space all together, and ended the quarter with negative absorption of 196,880-sf, compared with negative absorption of 178,410 sf in the second quarter of this year.

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