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Businesses consider northern colorado a safe place to

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Unformatted text preview: 10 vacancy rates reported by Realtec of approximately 13%, 9%, and 8%. Businesses consider Northern Colorado a safe place to grow, with its favorable tax environment, educated labor force, and high quality of life. Existing CRE will continue to strengthen, provided new supply is constrained. Southern Colorado and Colorado Springs ranked 9th in a study by the Brookings Institute of the top 100 metro areas in the country for its 64 position to recover from the economic downturn, citing the resiliency of the area’s industries and the gap between education of the workforce and the needs of employers. In 2011, small office lease transactions have been growing, which may signal a stabilization of the employment market. Sierra Commercial Real Estate notes that Q3 2011 vacancies were down but rents were generally flat year-over-year. Office vacancy decreased slightly, to 17.27% from 17.41%, but rents slipped to $11.22 per square foot (psf) from $11.52 psf. Absorption was muted by the lateral movement of tenants into...
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