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No Relief From Rising Office Vacancies

DENVER-No submarket was able to cut its office vacancy rate in the third quarter, according to a report from the local Trammell Crow office. Direct vacancy rises nearly a full percentage point to 15.8%.

By John Rebchook | Updated on October 11, 2002

DENVER-The third quarter was another tough three months for the Denver metro area office market, according to a Trammell Crow report. The report shows the direct rate was up almost a point to 15.8%, while the overall rate increased slightly to 21.4% from 21.0%.

The metro area’s class-A direct vacancy rate increased to 17.5% from 16.8%, while the class-B vacancy rate climbed to 15.5% from 14.5%. In addition, seven of the nine submarkets reported increased direct vacancy rates.

The Boulder County and Northwest submarkets both held steady at 25.7% and 24.7%, respectively and the CBD posted a slight increase at 10.2%, up from 10.1%.

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