Aurora Office Market Stable

AURORA, CO-The Aurora office market is stabilizing, according to a third-quarter report by CB Richard Ellis. “As ski season is coming up and hunting season is here, the Aurora Office Market has begun to show positive signs of life,” says Jason Thomas, a broker associate at CBRE.

“The overall Aurora office market has begun to stabilize as vacancy and availability rates have remained relatively unchanged, average asking lease rates have dipped slightly and although absorption is still negative, the market realized less negative absorption in the third quarter than any previous quarter this past 12 months.”

Still, Thomas cautions, it remains to be seen though if this “is the start of a trend or if we are still grinding in the muck and mire of the business cycle.” Thomas thinks it is the beginning of better times, but “the next several quarters will be telling.”