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With the construction pipeline all but shut down and reduced rents prompting many tenants to trade up for better or more efficient space, the U.S. office market absorbed a strong 19 million square feet in the third quarter. The leasing activity helped lower the national office vacancy rate slightly to about 13.1% — down nearly…
Metro Denver’s commercial real estate market inched toward recovery in the third quarter, with vacancy rates for all three market segments – office, industrial and retail dropping slightly, according to CB Richard Ellis. Third-quarter highlights from the report include: Six straight quarters of positive absorption for the industrial market. New build-to-suit construction for the office…
Downtown Denver’s 1801 Caifornia Street office tower, former headquarters of Qwest Communications International, is under contract to Brookfield Asset Management Inc. The skyscraper is now home to local offices of CenturyLink Inc. which bought Qwest in April. Previously, 28-year old 1801 California was the longtime head-quarters of Qwest’s telecom predecessor, US West Inc. A Brookfield…
In its two-year study, Fitch Ratings analyzed the performance of 21,334 commercial properties from 2008 to 2010, which secure its current $270.4 billion fixed-rate CMBS portfolio. Just over one-third of the portfolio is secured by office, another 33% by retail, 14% multifamily, 7% hotel, 6% industrial/warehouse, and 6% other property types. Hotels have seen the…
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