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2/27/2014 Hot Off the Press: Northwest 4th Quarter Overview <br />Hot Off the <br />Press: <br />Northwest <br />4th Quarter <br />Overview <br />As a follow up to the CBRE Research reports we shared with <br />you two weeks ago which looked at Denver Metro statistics for <br />office, industrial and retail for the 4th quarter, we are sharing <br />the just - published Northwest 4th Quarter 2013 Overview. The <br />quarterly Overview is an in -depth look specifically at the <br />Northwest office market, with detailed statistics and overall <br />trends in the submarket. <br />For context, the below summary compares the Northwest's <br />submarket (7.7 million square feet), with the overall Denver <br />Metro Market (107 million square feet), and the neighboring <br />and dynamic Boulder submarket (5.7 million square feet): <br />Absorption: <br />• 19,609 SF — Northwest <br />• 167,463 SF — Metro Denver <br />• 70,966 SF — Boulder <br />During Q4 2013 the trend of restrained leasing activity <br />continued in Denver's Northwest submarket, with the majority <br />of demand driven by small users. The largest transaction of the <br />quarter was the CableLabs renewal, 76,975 SF at Coal Creek <br />Business Park in Louisville; however, this renewal was <br />absorption neutral. The Northwest posted a positive absorption <br />of 19,609 sq. ft. in Q4 2013 attributable to Front Porch Digital <br />moving into Lafayette Corporate Campus M1, EnGlobal <br />relocating and expanding at Eldorado Ridge III, and smaller <br />tenants landing in the market, including InfoGroup, STR <br />Global, Analytic Partners, Aerotek and Liberty Mutual . These <br />positive absorptions were balanced out by the vacation of <br />McGraw Hill from Westmoor Technology Park 6 in an effort to <br />consolidate and in -line with corporate users' focus on space <br />efficiency. <br />Vacancy /Availability: <br />• 20.6% Vacancy, 25.3% Availability — Northwest <br />• 13.5% Vacancy, 20.1% Availability — Denver Metro <br />• 7.3 %Vacancy, 13.2% Availabil ity — Boulder <br />Reflecting positive absorption in the quarter, direct vacancy <br />dropped to 20.6 %, a decrease of 25 basis points quarter -over- <br />quarter. Although direct vacancy rates decreased quarter -over- <br />quarter, rates increased 1.4% year - over -year, stemming from <br />Trimble Navigation's move to their build -to -own building and <br />several large users consolidating space 2013. <br />Rates: <br />7 <br />http://cbreernail.corn/ridff004,9bd57b8ef27f565b9460b4f94b58ba7ffoc <br />1/3 <br />