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As a follow up to the CBRE Research reports we shared <br />with you two and a half weeks ago which looked at Denver <br />Metro statistics for office, industrial and retail for the 3rd <br />quarter, we have just completed our team's detailed <br />Northwest 3rd quarter 2012 Overview. The quarterly <br />Overview is an in-depth look specifically at the Northwest <br />market, with micro -market level information on: <br />• Quarterly and year-to-date absorption <br />• Market availability, vacancy, and sublease statistics <br />by market and by micromarket <br />• Major sublease block availability and activity <br />• FAR Analysis <br />• Active tenants in the market by name and industry <br />• Cornps for 4th Quarter, and the year <br />• Planned new construction projects <br />• Short and long term outlooks <br />Absorption: <br />The 3rd quarter yielded mildly negative absorption of <br />-22,261 SF (Denver Metro posted negative absorption of <br />• 765,896 SF as a whole). Overall, gross transaction <br />volume was reduced over the summer months with 3 <br />transactions 10,000 SF and larger (all 3 were renewals <br />that yielded approximately 5,000 SF of positive <br />absorption). There were several smaller new tenants to the <br />market that resulted in positive absorption, including <br />TekSystems (8,834 SF) and Blue Horseshoe (5,912 SF) <br />at Circle Point, Article One Partners (2,712 SF) at 500 <br />Discovery, and Silicon Mountain Technology (1,982 SF) at <br />Westmoor; however, a few larger negative events tipped <br />the scale. Northrup Grummen moved out of a portion of <br />their building (-15,291 SF) in Lafayette, LPS downsized at <br />Westmoor Building 6 (-20,206 SF) and EMC completed <br />their move out of 867 Coal Creek of -17,906 SF (tenant <br />relocated to 285 Century — this positive absorption was <br />previously counted, but the negative absorption was not <br />reconciled). Looking ahead to the 4th quarter, a relatively <br />flat quarter is expected even though several transactions <br />currently in process are expected to be completed. This is <br />due to the anticipation of McKesson's lease expiration at <br />335 Interlocken, which will place 70,793 SF directly back <br />on the market. <br />¢ r cll° "v<„Av Fabitit <br />As of the 3rd quarter, vacancy increased to 19.1% and <br />overall availability is 27.6% (Denver Metro posted vacancy <br />of 15%. and 20.8% availability). The differential between <br />vacant and available space consists of 1) space that is <br />currently being marketed as Landlords anticipate an <br />