"Denver's office market is still reeling from the implosion of the high-tech, telecommunications and financial services sectors that occurred in late 2001," according to the report.
Lease rates are down 13% since the end of 2000, and property owners are offering aggressive tenants such as rent abatement, free parking and generous tenant improvement allowances.
Some landlords are even offering lease buyout, exceptionally reduced first-year rental rates and creative renewal options, the report notes.
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