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Office Insight

United States | Denver, CO

Report | Denver Office Insight - Q1 2011


Although Denver’s unemployment rate rose to its all-time high in the first quarter, there are still positive signs of economic recovery. The labor force grew by over 7,000 people and total employment could not keep up, however hiring and production expanded in some sectors pointing toward recovery.
Relative to previous quarters, leasing activity slowed in the first quarter. Several lateral relocations and renewals occurred, and many companies reduced occupancy to raise efficiency. Still, there were some new, large leases signed during the quarter which kept absorption positive overall.
Construction remains quiet throughout the metro area, and with the exception of two build-to-suit developments, there are no new projects to note.

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