Office Vacancy Rate Continues to Disappoint
After signs of improvement last year, the office vacancy rate in Boulder and Broomfield counties increased in the first quarter of this year. The rates in those two counties increased from 23.3% to 25.1%. An average rate below 10% is considered a healthy market by real estate brokers.
Some of our local vacancy rates are....
Area |
Vacancy Rate |
Average Lease Rates |
Boulder |
16.9 % |
$9.42 - $12.95 |
Downtown Boulder |
19.2 % |
None - $17.22 |
Broomfield |
31% |
$7.73 - $12.00 |
Gunbarrel |
17.7% |
$8.34 - $12.22 |
Lafayette |
24.1% |
$11.13 - $12.78 |
Longmont |
30% |
$7.98 - $13.18 |
Louisville |
19% |
$8.82 - $13.30 |
(Source: Boulder County Business Report, May 28 - June 10, 2004)
