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Office Market On a Roll

DENVER-A new market report shows 2005's office market posting the strongest performance since 2000. During the year, net absorption increased dramatically, the vacancy rate dropped and rents increased.

By John Rebchook | Updated on January 19, 2006

(To read more on the net lease market, click here.)

DENVER-The metro-area office market hit its stride last year, improving by almost every measure, according to the latest MarketScope report by Trammell Crow Co. Net absorption increased dramatically, the vacancy rate dropped and rents increased.

The report notes than 861,657 sf was absorbed in the fourth quarter, bringing last year’s total to 2.13 million sf. That represents more than a seven-fold increase from the 277,593 sf absorbed in 2004. The class A segment saw its absorption decline slightly to 897,647 sf, while class B absorption skyrocketed from negative 426,143 sf at year’s end 2004 to 1.23 million sf in the fourth quarter 2005, the report notes.

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