The second largest city in the Denver area has a relatively small office market. There are 72 buildings in the metro area with a total of 5.2 million sf, according to CB Richard Ellis. There are also 24 single-tenant buildings in the market, and if they are included, the market would total about 7.25 million sf.
The 18 class-A buildings, with a total of 585,746 sf, had the highest direct availability rate at 25.33%. The average weighted rent for class-A space is $17.55 per sf, $1.34 higher than the blended market average rate of $16.21 per sf.
In addition, there is 49,108 sf of subleased class A space available with an average rate of $13.82 per sf, and an average subleased term of 37 months.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
