Submarket Snapshot_4Q2023_Office_Interactive

MARKET SNAPSHOT COLORADO BLVD. & GLENDALE

OFFICE 4Q23

MARKET

4Q 2023

3Q 2023

4Q 2022

CARA STAMP Research Manager Tel: +1 303 218 3258 cara.stamp@cushwake.com MINH NGO Research Analyst Tel: +1 303 312 4293 Minh.ngo@cushwake.com

Inventory (SF)

5,353,525

5,353,525

5,353,525

Under Construction (SF)

0

0

0

Direct Vacancy (all Classes)

19.2%

19.1%

16.9%

Direct Vacancy – Class A

18.1%

15.9%

8.8%

Direct Vacancy – Class B

22.9%

23.0%

21.7%

Sublease Availability

258,325

286,071

250,108

Avg. Direct FSG Asking Rate (all Classes)

$29.10

$28.83

$28.30

Avg. Direct FSG Asking Rate – Class A

$34.72

$35.03

$35.16

Avg. FSG Asking Rate – Class B

$28.50

$28.43

$27.98

Net Absorption – Current Qtr. (SF)

7,381

-27,386

-16,379

A CUSHMAN & WAKEFIELD RESEARCH PUBLICATION Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in approximately 400 offices and 60 countries. In 2022, the firm reported revenue of $10.1 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), Environmental, Social and Governance (ESG) and more. For additional information, visit www.cushmanwakefield.com. ©2023 Cushman & Wakefield. All rights reserved. The information contained within this report is gathered from multiple sources believed to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy. cushmanwakefield.com

Net Absorption – YTD (SF)

-146,400

-153,781

-88,397

Leasing Activity – Current Qtr. (SF)

33,317

161,932

109,206

Leasing Activity – YTD (SF)

350,271

316,954

413,710

RENTAL RATE VS. VACANCY RATE

HISTORICAL SUBLEASE AVAILABILITY

350,000

$29.50

26.0%

300,000

$29.00

24.0%

250,000

$28.50

22.0%

$28.00

20.0%

200,000

$27.50

18.0%

150,000

$27.00

16.0%

100,000

$26.50

14.0%

50,000

$26.00

12.0%

0

Direct Avg. Asking Rate (FSG)

Direct Vacancy Rate