Thursday, January 10, 2008

Denver Condos

Denver: The Denver office market continued to benefit from in-migration and new job growth, which helped to push vacancy rates below 15% market-wide. Downtown vacancies actually are close to single digits with almost 1 million square feet of speculative development under way.

Report:

Study: Commercial Real Estate More Than 10 Percent of Colorado's. "National Association of Industrial and Office Properties study: The commercial real estate industry was accountable for more than 10% of Colorado's state economy during 2006... Commercial real estate comprises 10.5% of the state's economy, totaling out to a value of $23.4 billion. The state's three major metropolitan areas -- Denver, the northern Front Range and Colorado Springs -- had nearly 85% of Colorado's existing commercial and multifamily properties, with metro Denver alone representing nearly 58% of existing income-producing square footage." (Commercial Property News, Jan. 8th)

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