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Article: Experts Say Denver-Area Office Market Faces Slow Climb Back to Recovery.
- Article from:
- The Denver Post (Denver, CO)
- Article date:
- January 9, 2002
CopyrightCOPYRIGHT 2002 The Denver Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Mark P. Couch
Jan. 9--The Denver-area office market could take four years to recover, even if the slipping economy improves this year, economic experts warned building owners and office brokers on Tuesday.
Slower job growth could delay rental rates from going up as companies focus on improving profits before they lease more space, said Rick Pederson, president of Foundation Properties of Denver.
"It's like sliding down a slide into a drained swimming pool with 18 inches of water in it," said Pederson. "You hit the water, but you hit the bottom, too."
Pederson and Richard L. Wobbekind, an economist at the University of Colorado ...