The report shows that there is 1.44 million sq of sublease space, which excludes any space with lease terms expiring in less than 12 months, the lowest level since there was 1.3 million sf of sublease space available.And there was 1.5 million sf of leasing activity, the most since 1.79 million sf in August 1, 2001.
The report by CB Richard Ellis brokers Sergio Castaneda, John Marold, Mitch Bradley and Lang Williams, also notes that there are six companies actively seeking more than 100,000 sf each, for a total of 650,000 sf.
That would represent 430,000 sf of the projected 712,000 sf of positive absorption projected over the next 12 months. That would mark the best absorption since Sept. 1, 2001, when the submarket, the largest in the area, absorbed 787,000 sf.
"Not all of these companies are focusing exclusively on the southeast Denver market," the brokers note. "But we are pleased with the increase in activity and hope these trends will continue throughout 2003."
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