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2/27/2014 Hot Off the Press: Northwest 4th Quarter OrerrieN <br />• Increased by $0.01/SF — remaining steady <br />• $24.66 /SF FSG Average Asking Rate — Northwest <br />• $22.20/SF FSG Average Asking Rate — Metro <br />Denver <br />• $23.761SF FSG Average Asking Rate — Boulder <br />• $O.851SF Delta Between Asking and Comparable <br />Rates Northwest <br />The Northwest submarket observed a year -o er -year increase <br />of 1.3% in direct asking lease rates; diverging from overall <br />Denver market increases, but remaining at levels above other <br />suburban markets (significant increases in asking rates in the <br />Northwest occurred in 2012). Class A direct asking lease rates <br />increased to $30.37 per sq. ft. marking a 0.5% increase <br />quarter - over - quarter, but a 3.0% decrease from the end of <br />2012. Both Class B and C space observed a slight decrease in <br />lease rates with Class B space decreasing nominally from <br />$22.82 per sq. ft. to $22.81 per sq. ft., while Class C space <br />decreased from $14.74 per sq. ft. to $14.70 per sq. ft. in the <br />quarter. Class B and C space observed a 0.3% and 5.5% <br />increase year - over -year, respectively. The year - over -year <br />increase in Class B and C space vs. a year -over -year <br />decrease in Class A space is attributable to tenant preference <br />towards areas with strong amenity bases rather than high <br />quality space alone. <br />Tenant Activity: <br />• 777,784 SF Active Tenants Tracked Northwest <br />During the 4th quarter, tenant activity was increased by <br />approximately 90,000 SF quarter over quarter at 777,784 SF. <br />Smaller tenants below 10,000 SF remain active - a positive <br />predictor of consumer confidence in the economy. There are <br />also several larger tenants in the market considering <br />expansion in addition to a handful of medium to large <br />transactions expected to close in the 1st quarter which will <br />have a positive impact on absorption in the opening quarter of <br />2014. <br />Please do not hesitate to reach out with questions as you read <br />through the full Overview, which can be accessed by clicking <br />on the Zink below. Have a great weekend. <br />Best, <br />Frank, Austin and Blake <br />Downloads <br />4Q13 Northwest Overview.edf - 4.58mb <br />8 <br />http / /cbreemail.carnl 7f565b9460b4f94b58ba7ffcc 2/3 <br />