As business continues to bounce back following the impacts of the coronavirus pandemic, the Denver commercial real-estate market is still working its way through the struggle
A JLL quarter two analysis of Denver's current economic and office real estate market conditions shows that absorption of office spaces ran negative again, as larger tenants continue to downsize and give back space.
"I think it's really a case of what their employees want," Shirazi said."Companies have been in a war for talent for quite some time now and so employees seem to be kind of in the driver's seat as to whether they want to come back or not. So I think executives are reacting to employee demand." But, Downtown Denver Partnership CEO Kourtny Garrett says Denver has"not yet seen significant long-term commercial office contraction."Like Shirazi, Garrett points out that residential demand to live in Denver is a main indicator that the commercial real-estate industry is only experiencing a temporary decline and lull.
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