March 2010
Recent Colorado Commercial Real Estate Sale and Lease Transactions
Please click on PDFs below pictures for detailed property summaries
American Honda Building Information (133 KB)
ARCADIS Building Information (134 KB)
Chocolove Building Information (129 KB)
Comcast Spotlight Building Information (247 KB)
First American REO Building Information (236 KB)
Green Manning & Bunch Building Information (262 KB)
Harwell Holdings Building Information (166 KB)
Kennedy Childs & Fogg Building Information (166 KB)
Primesource Staffing Building Information (184 KB)
Scottrade Building Information (128 KB)
Synkera Building Information (151 KB)
TAKRAF Building Information (192 KB)
Rare Space Market Research Study
In the fall of 2009 Rare Space hired a market research firm to conduct a survey of business leaders in the Denver/Boulder metro area. we had a high response rate from an impressive subsection of the business community: 47% of respondents occupying C-Level/President/Owner roles in their businesses and another 38% occupying decision making roles. Here is some of the data that we collected:
Factors respondents would like to change regarding current office space
Top reported Rare Space brand attributes - unprompted recall
Former clients' inclination to rehire Rare Space for their next commercial real estate transaction
How respondents first communicated with current broker
Office - Third Quarter 2009
Boulder Office Real Estate Statistics
Broomfield Office Real Estate Statistics
Central Denver Business District Office Real Estate Statistics
Longmont Office Real Estate Statistics
Southeast Denver Office Real Estate Statistics
Southwest Denver Office Real Estate Statistics
West Denver Office Real Estate Statistics
Industrial - Third Quarter 2009
Aurora Industrial Real Estate Statistics
Boulder Industrial Real Estate Statistics
Broomfield Industrial Real Estate Statistics
Central Business District Industrial Real Estate Statistics
East I-70/Montbello Industrial Real Estate Statistics
Longmont Industrial Real Estate Statistics
South Central Denver Industrial Real Estate Statistics
West Denver Industrial Real Estate Statistics
Rare Space Clients in the News
13-Aug-2009
Return Path - recipient of ColoradoBiz Magazine's Best Companies to Work for in 2009Commercial Real Estate Report Q2 2009 - Industrial Statistics
23-Jul-2009
Commercial Real Estate Report Q2 2009 - Industrial StatisticsIf you would like to receive the latest commercial real estate statistics for Boulder, Denver and Colorado Springs, send Rare Space an email by clicking HERE.
Commercial Real Estate Report Q2 2009 - Office Statistics
23-Jul-2009
Commercial Real Estate Report Q2 2009 - Office StatisticsIf you would like to receive the latest commercial real estate statistics for Boulder, Denver and Colorado Springs, send Rare Space an email by clicking HERE.
Commercial Real Estate News from Rare Space - July 2009
09-Jul-2009
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Commercial Real Estate News by Rare Space June 2009
15-Jun-2009
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Commercial Real Estate News by Rare Space May 2009
15-May-2009
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Is it time to buy?
16-Apr-2009
Rare Space has seen a pickup in building purchase activity. We submitted an offer to purchase a 20,000 square foot office building in the Denver Tech Center, and we are working another purchase in the the Denver LoDo area. Our clients feel that there are some great purchase opportunities and the timing is right for them.Commercial Real Estate News for Colorado by Rare Space April 2009
15-Apr-2009
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Commercial Real Estate News for Boulder and Denver by Rare Space Feb 2009
15-Feb-2009
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40% savings for a Boulder office space client
23-Jul-2009
Saved a Boulder office client 40% on their office lease, which was about $430,000Commercial Real Estate News from Rare Space - Jan 2009
14-Jan-2009
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Commercial Real Estate News by Rare Space Sept 2008
15-Sep-2008
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Northwestern Mutual is a great client
25-Jun-2009
Northwestern Mutual Financial Network is a great client! Scott Theodore is a dynamic, decisive, inspirational and successful leader, and Rare Space is fortunate to have them as a client. My partner recently assisted them again in opening a new office in the Interlocken area in Broomfield.Sales Partnership relocates and expands
25-Jun-2009
Sales Partnerships, #107 of the Inc. 500 companies, asked Rare Space to help them negotiate their latest commercial real estate deal. We located the right building, negotiated the right deal, and I think that SPI is headed for even greater success in their new office. We had a chance to talk with the VP of Operations for SPI, and was really impressed by the technology they have developed and use in their sales outsourcing business.Very cool new client
25-Jun-2009
Rare Space was hired by a very cool company today to help them find larger space for their business , which is killing it! The firm is the leading manufacturer of a flexible, mesh LED video display technology. So basically any surface, anywhere can be turned into an excellent quality video screen. The people are great, and it is going to be a fun deal to work on!Q1 2009 Boulder Denver Commercial Real Estate Industrial Statistics
14-May-2009
Email Rare Space to Receive - Q1 2009 Boulder Denver Commercial Real Estate Industrial StatisticsQ1 2009 Boulder Denver Commercial Real Estate Office Statistics
14-May-2009
Email Rare Space to Receive - Q1 2009 Boulder Denver Commercial Real Estate Office StatisticsClient Activity
27-May-2009
Rare Space clients are behaving as follows: the small and medium sized firms are making decisions about their space and real estate at the same pace as normal.The larger clients are taking longer to decide, and for good reason. The monetary commitments are larger, the impacts are larger and the decisions can be more monumental. Also, the lead times for larger clients are generally longer which gives them more time to negotiate and maximize their incentives.
Denver's housing market upside is #1 in the nation
27-May-2009
While Rare Space is strictly a commercial real estate firm, when Denver is identified as the #1 housing market in the nation poised for a rebound on NBC's Today show by Barbara Corcoran, we find it noteworthy. Here's the link to the videoSublease Space as an Option
13-May-2009
Rare Space has recently completed several subleases on behalf of clients. There are several benefits to subleasing space and some challenges as well.The benefits are:
-Generally the sublease space is offered at a discount compared to direct space in the building
-Sublessors may offer phones and furniture as part of the transaction
-The terms are more flexible than direct leases
The challenges are:
-The negotiations can be difficult because the sublessor is inexperienced
-Occasionally, the sublessor goes into default, which may terminate the sublease
-The sublease terms are shorter than 3 or 5 years which means a relocation or renegotiation of the lease
2008 Year End Commercial Real Estate Stats
14-Jan-2009
In looking at the recently released Q4 2008 year end, and I found some interesting trends.
In Q4, office vacancy increased, but so did the average lease rates.
In Q4, flex and industrial vacancies declined and lease rates remained the same.
Office Buildings in the greater Denver area = 6,139 Buildings, 171,000,000 SF of space, 13.6% vacant, (204,000) SF absorption, Avg Rate - $21.53 FSG
Industrial Buildings in the greater Denver area = 7,136 buildings, 224,000,000 SF of space, 7.1% vacant, 118,000 SF of absorption, Avg Rate - $5.32 NNN
Flex Buildings in in the greater Denver area = 1,567 Buildings, 44,000,000 SF of space, 14.2% vacant, 469,000 SF YTD absorption, Avg Rate - $9.90 NNN
2009 Lease Rates and Purchase Prices
18-Dec-2008
On Thursday, I bumped into
commercial real estate investor in the Denver's Larimer Square
Starbucks and we had a brief conversation on the state of the RE
market. his firm had just purchased a building from Opus, and the
building is 80% leased. He said that the last 20% is where all the
profit comes from.
In relation to the commercial property investment opportunities, he
said that the real deals will start to happen in 2010. The current
Landlords need to experience some discomfort before the cost per square
foot decreases and the cap rates increase.
Commercial lease rates will probably adjust downward 6-12 months prior to the reduction in sales prices. From a Tenant's perspective, this means there will be good leasing opportunities in Q2 or Q3 2009.
Aspenwood Capital moves HQ to the Denver CBD
28-Feb-2007
Aspenwood Capital - an investment banking firm, is accustomed to moving at a fast pace. The company, hired Rare Space to locate space for the company that would be ready for move in 30 days from signing Rare Space's exclusive agreement. Rare Space delivered the space on time and under budget at Larimer Corporate Center in Denver's Lower Downtown "LoDo" district.Byers Peak purchases a 30,000 SF building in Wheat Ridge, CO
28-Feb-2007
Byers Peak, a leading contract manufacturer of low to medium volume, complex products for the medical device, biotech and industrial instrumentation markets engaged Rare Space to locate a "flex building" that the company could purchase. Due to market conditions and the building requirements, Rare Space worked on behalf of Byers Peak for nearly twelve months. Ultimately, the right building was located and the building purchase was successfully completed.CenterStone relocates HQ in the Denver CBD
28-Feb-2007
CenterStone Technologies has relocated their Denver office to Larimer Corporate Center. The company had been doing business in two suites separated by the building corridor. The split office configuration had some inherent inefficiencies which were dramatically improved after Rare Space located and negotiated their new lease at Larimer Corporate Center.Denver - doing relatively better according to Kiplinger
09-Dec-2008
In radiant the latest Kipling Newsletter, I read the section on how the commercial real estate market will fare over the coming months, and the outlook is not too bright for many parts of the country.
However, according to Kiplinger, there are a few markets like Denver, Washington DC, Houston, Seattle and Dallas that expected to "do relatively better" than the rest of the nation.
What that means to me is that property values, and lease rates will remain fairly unchanged for the foreseeable future.
Rare Space Clients in the News
13-Aug-2009
NewsGator - made the Inc. 500 list of fastest growing companies in the US (555% revenue growth!)