Six months ago, office rents were at an all-time high andvacancies were near an all-time low, he says. Now, it's a renter'smarket for the first time in six or seven years, he says.
The culprit? Four million sf of subleased space on the market,much of it along the Northwest corridor between Denver and Boulderand in the Southeast market.
But it's not fair to compare the current market to the depressedtimes of the mid-1980s, Beer says, even though the Northwestsubmarket's vacancy rate will rise to more than 20%, which isn'tthat far off from the worst days of the '80s.
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