BOULDER, CO—Downtown class B space has seen tremendous surge in activity with no space available. Largest downtown block available is currently 3800 square feet.
That is according to GlobeSt.com Thought Leader, Xceligent, who recently released its local Q2 office report. According to the firm, class A rents are pushing above the high 20′s into the low 30′s NNN with $10 to $14 operating expenses.
Concessions, the firm says, are a thing of the past in the CBD and Downtown Boulder markets. Xceligent notes that they are seeing no free rent, minimum tenant improvements or CAM adjustments.
“Class A and B opportunities are seeing such a high level of activity… any potential development projects are being pushed to break ground,” the firm says.
Lastly, the firm says that there has been a small surge of 20,000 square feet of positive absorption directly related to the tightness in the market over the first part of 2014.