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DENVER-The northeast submarket has the lowest office vacancy rate in the second quarter, and is also showing the best improvement from a year earlier, according to data from the Denver research department at Cushman & Wakefield.

The data shows a second-quarter vacancy rate for the northeast region was 16.1%, compared with 26.7% a year earlier. That is the lowest vacancy the northeast corridor has experienced since 2001, when it stood at 12.5%.

The northwest vacancy rate is 26.5%, compared with 31.7% in 2001. A year ago, it posted at 21.3%. The southeast suburban office market stands at 21.2%, compared with 25.2% a year earlier. The other major office market, central, which includes the central business district, stood at 17.8%, almost a point lower than the 18.5% vacancy rate a year earlier. In 2001, its vacancy rate was 14.6%.

Cushman also broke out two of the most important markets, the central business district and the Denver Tech Center. The Denver Tech Center doesn’t include the other major southeast suburban office parks such as Greenwood Plaza, Inverness and the Meridian International Business Park.

The CBD’s office vacancy rate at the end of the second quarter stood at 17.8%, compared with 19% a year earlier. In 2001, though, only 11.8% of the downtown space was vacant. The DTC’s vacancy rate stand at 19.7%, about 10 points lower than the 27.9% reported a year earlier. The DTC has shown huge strides in leasingspace, as its vacancy rate in the second quarter of 2001 was 18.3%.

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