Brokers estimate that GE Access will pay less than $8 per sf for the Westmoor space, plus about $7 in expenses, while it's possible that the company's rent on the Pearl Street Mall, including expenses, tops $30 per sf. Also, because of the high cost of housing in Boulder, it's likely that many of the GE Access employees live in the northwest suburbs, so their commute will be shorter when the move takes place in May.
On the other hand, it's bad news for the Pearl Street Mall and Boulder. Through August 2002, the latest figures available, sales tax revenues are down 7.6% along the four-block Pearl Street Mall and down 8.31% for the entire city. The city's sales tax revenues are down for 17 consecutive months.
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