The report shows 322,800 sf of negative absorption in the firstquarter. Of that, 295,084 sf is in the suburbs.
"The bottom line is that for Denver's office market to improve,companies that lease office space need to create more jobs andhence will eventually need more space to accommodate these newemployees," the report notes. "Unfortunately, new job growth forDenver is forecasted at just 1.2% for 2004. This growth rate willnot translate into a need for more office space, but at least thereis some job growth projected."
If the national economy picks up, Denver likely will benefitabout six months later, the report notes, as Denver tends to lagthe national economy and the national commercial real estate marketby about six months.
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