The company's 2001 forecast and analysis find that vacancies actually fell to 3% last year despite a 78% increase in apartment construction. And while demand for the Denver-area office space had been strong in 2000, the market is expected to start weakening. That's because an additional 5.9 million sf is expected this year, forcing vacancies up by 1.3% to 8.9%. However, Denver's 3.5% retail rental growth rate had exceeded much larger markets such as Los Angeles, Atlanta and Chicago, according to Reis.
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