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Since 2015, Uptown/East Side has seen only 12 percent of large tenant leasing activity

  • ​Looking at leasing activity for deals greater than 20,000 square feet in the CBD, over half of the activity has been centered in West CBD and Lodo.  Midtown CBD has seen one-third of the total activity, however Midtown CBD also has the largest share of inventory at 10.6 million square feet.
  • Historically, energy firms have called Uptown/East Side and Midtown CBD home.  Although the oil and gas downturn most certainly played a role in the activity slowdown in Uptown/East Side, the trend to move toward Lodo has always been another factor.
  • Starting with the redevelopment of Union Station, and followed by a wave of new construction in office, retail and multifamily, tenants have continually been attracted to the west side of downtown.  Although at a higher price point, many tenants are willing to pony up in order to be located amongst their peers with the latest and greatest amenities in the market.  
  • As space continues to be absorbed in Lodo and prices remain the highest in the CBD, other downtown submarkets can expect to see activity from tenants unable to plant their flag in Lodo. New construction is setting the bar high, so it would benefit older buildings to reinvest into their common areas to keep on par with the newest trends. ​​

Source: JLL Research




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