DENVER—A third-quarter office market study from Savills Studley indicates that Denver's office market has weathered an energy industry slowdown that has impacted other markets.
When the pullback in the oil and gas markets really gathered traction roughly nine months ago, there was a lot of understandable second-guessing about the sustainability of the expansion in the Denver economy and office market.
"Second-guessing the sustainability of leasing in Downtown Denver, and the ability of the market to digest $40-plus rents, has proven to be misguided, says Peter Knisely, associate director for Savills Studley, Denver. "Demand for new product as well as for re-purposed creative space has been sustained, supporting record rent levels."
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
