DENVER, CO— The Denver office market is expected to record steady operating performance this year, and the long-term outlook remains optimistic, according to a second-quarter Office Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm. 
Employment growth is projected to exceed the national average through the next five years as companies target the market’s educated work force and attractive business climate. “The healthy economic outlook for Denver is expected to increase transaction velocity through the second half of 2008,” says Adam Christofferson, (top right photo) regional manager of the Denver office of Marcus & Millichap.
Following are some of the most significant aspects of the Denver Office Research Report:
· Total employment in Denver is on pace to grow 0.3 percent with the addition o
f 4,000 positions in 2008.· Office construction activity in Denver is forecast to rise in 2008 to 1 million square feet, compared with 320,000 square feet last year.
· Vacancy is forecast to improve 60 basis points this year to 14.7 percent.
· Asking rents are expected to increase 5 percent to $22.43 per square foot.
· Effective rents will advance 5.5 percent to $18.79 per square foot.
For a copy of the complete Denver Office Research Report, as well as reports on other markets nationwide, visit our website at http://www.marcusmillichap.com/.
Press Contact: Stacey Corso. Communications Department, (925) 953-1716
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