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