The high office vacancy rate in downtown Denver inched slightly higher in the first three months of 2024, rising to about 32% — the highest point in a couple of decades and more evidence of a drawn-out recovery from a pandemic that upended work routines and sectors of the economy. But real estate experts and business advocates insist there’s more to the story about the state of downtown than the uptick from a total vacancy level of roughly 31% at the end of 2023. “I just think that statistics lag what’s truly happening on the streets,” said Sarajane Goodfellow, a first vice president in the Denver office of real estate firm CBRE. “From a day-to-day perspective and from a boots-on-the-ground perspective, it is feeling a lot better, more lively and active,” she added. Goodfellow, who represents landlords, said the number of tours she and her team are conducting of downtown office buildings has increased.
Similar Stories to As Denver Office Vacancy Rates Rise Again, So Does Optimism For Downtown’s Future on Bing News
Judith Kohler, Denver Post
Sat, 05/18/2024 - 5:00am
Topics: sarajane goodfellow from janessa biller johns manville s bob wamboldt the mile newer lower downtown lodo uptown midtown placer but goodfellow kourtny garrett related articles sellers zillow looser skyrocketing wework we mayor mike johnston s house all in mile successfully those block denver i goodfellow cbre i biller jll johns manville st downtown ceo johns manville the the high downtown union station a garrett real estate colorado colorado s johnston s rates quarter people market tours year space months property metro tax tenants total called company group sees workers lot employees dollars numbers report years leases vacant percentage upgrade fourth team efforts longer plan
BING NEWS:
- Office vacancies set a new all-time high, ‘breaking the 20% barrier for the first time in history’
The slow bleed occurring in the office sector has led to a steady rise in the vacancy rate as permanent shifts in working behavior have outlasted the initial wave of the pandemic four years ago,” ...
07/2/2024 - 9:26 am | View Link - Downtown office vacancy rate to soar after major employer's exit
The central business district knew it was losing one of its biggest players for years. But the impact had yet to be calculated — until now.
07/1/2024 - 7:21 am | View Link - D.C. Office Vacancy Hits Yet Another Record High in Q2 2024: CBRE
The Federal Housing Finance Agency renewed its lease at 400 Seventh Street NW, signing for just over 377,000 square feet, while the D.C. Department of Human Services renewed a 333,658-square-foot ...
07/1/2024 - 6:00 am | View Link - 'Vicious cycle': US office vacancy levels hit record high — are we on the precipice of an 'urban doom loop?'
“With significant lease rollovers and shifting interest rate expectations, uncertainty remains over exactly when office vacancy rates will truly peak ... apartments could revitalize a dying downtown ...
06/28/2024 - 11:28 pm | View Link - Office vacancy in San Francisco rises to new record at 37%
said the “incremental changes” to vacancy and availability suggest the city’s office market may have nearly stabilized. That means the rise in empty offices could come to a halt, along with slipping ...
06/25/2024 - 4:01 am | View Link - More
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