DENVER-"The psychological impact of having 3.4 million sf of subleased space is huge," says Nick Pavlakovich, a senior director and top office broker at Cushman & Wakefield. That would push the overall office vacancy rate to 18%.
DENVER-The city is forgoing $60,000 in meter revenue through Christmas Eve--Christmas is a free parking day--to lure last-minute shoppers and visitors Downtown.
LAS VEGAS-Significant new office development is pushing vacancy in the Las Vegas market and creating a windfall for office tenants as a result, says the latest Grubb & Ellis Co. report. Look for vacancy to spike to 12% to 14%, a far cry from recent years.
DENVER-Revenues rise 7.4% over November 2000 figures to $53.2 million. The majority of the revenue, $38.4 million, comes from the 20 casinos in the mountain town of Black Hawk.
AURORA, CO-Anthony Martinez reopens a former Silver Cinemas Super Saver Cinema 8 at East Sixth Avenue and Peoria Street as CinemaLatino, where Spanish-language films will be shown. The concept is new to the market, one broker says.
DENVER-The Colorado Public Interest Research Group finds 10 development projects it likes, including the $4-billion redevelopment of the former Stapleton International Airport, in its "Smart Growth Hall of Fame.
WESTMINSTER, CO-The Walnut Creek Business Park at W. 108th Ave. and Wadsworth Pkwy. is one-third complete with the availability of 99,000-sf flex/office-warehouse space in three buildings.
LAS VEGAS-A recent Grubb & Ellis forecast says Las Vegas' resiliency will keep it growing despite the hard economic times. The city always rolls with the punches. And, good opportunities will prevail for well-capitalized investors.
LAS VEGAS-Industrial buyers and tenants can expect short-term opportunities and bargains in the Las Vegas market come 2002, according to the latest report by Grubb & Ellis. The long-term challenge will be to meet the pent-up demand for industrial space.
DENVER-Despite a 26.7% jump in permits issued in the first 10 months of the year, one multifamily broker cautions those figures represent projects in the pipeline, and future growth is likely to be slower.