DENVER-Jones Lang LaSalle is forecasting an "inflationary increase" in rent growth in the Downtown market and a "flat-to-small increase" for the suburban market from now until 2008, according to a recent third-quarter report from Jones Lang LaSalle.
Jones Lang LaSalle is projecting the 2008 vacancy rate for downtown Denver at 12% and the suburban office market at 17%. The third quarter direct vacancy rate for Denver's Central Business District is 12.21%. When subleased space is included, it rises to 15.34%. The overall vacancy rate for Denver's suburban market is 15.65%.
As far as the suburban submarkets, the Midtown market has the lowest vacancy rate at 8.13%. The highest vacancy rate is in the Northwest market at 23.87%. As far as other suburban submarkets: Northeast is at 10.47%; Southeast is at 19.88%; Southeast Suburban has a 15.69% vacancy; Southwest Suburban is at 12.14%; and the West market shows 17.7% vacancy.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
