Jason Shepherd, co-founder of Atlas Real Estate Group, shares his take with Colorado Real Estate Journal as to why Atlas is not purchasing any office product in Denver right now.
“The current supply for office properties in downtown Denver is rapidly outpacing the demand. In the first three quarters of 2016, we saw absorption of 61,486 square feet of new office space in the downtown area. Parallel to that, there’s currently more than 2.1 million sf of office space under construction, with 365,000 sf set to be delivered the fourth quarter. That means in the fourth quarter alone, almost six times the amount of office space absorbed all year will be delivered to market,” says Shepherd.