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DENVER-The good news along the southeast market is that 106 tenants are looking for a total of 2.06 million sf of office space. That is the most activity along the corridor since April 2001, when tenants were seeking 2.1 million sf, according to the latest report by the South Denver Office team at CB Richard Ellis.

The team, comprised of Sergio Castaneda, John Marold, Mitch Bradley and Lang Williams, note that the “gross absorption from these tenants is at the highest level since January 2001.”

To a certain extent, the south Denver market is benefiting from the national economy, which showed the 7.2% annualized quarterly GDP growth rate in the third quarter.

But the market, the largest in the metro area, isn’t out of the woods yet.”Lease rates continue to fall and concessions continue to rise,” according to the team’s report.

“The fact is that with 8.2 million sf available, the southeast Denver market will have to sustain several quarters of positive net absorption before rents stabilize,” according to the report.

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