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.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
