The city of Boulder contains around 12 square feet of office space. Thanks to the upswing development that started in 2016 and has accelerated since that time, the availability and vacancy rates have slightly increased. The exceptional performance of the office market of Boulder within the last several years is proved by several large-scale transactions, numerous investments, high net absorption rates, etc. Around 20% of office space-using employment in Boulder is linked to the high-tech industry or IT sector. The city is one of the pioneers of the Colorado state regarding the number of startups per capita. So, unsurprisingly, the Boulder’s office stock derives a significant amount of demands from occupiers connected to this sector. Moreover, the region is a magnet for tech giants looking for the expansion to the state. Thus, recently, it has become home to a branch of Amazon. Boulder boasts several speculative office developments, which as a result bring thousands of square feet of high-quality workspace to the market. Regarding this, it would be right to mention RÊVE, Canyon28, Pearl West, S*Park developments, and so on. The highest price points for office space rental in Boulder range from about $32 to $35 per sq.ft. per year NNN; while the average fee for venues stays at the point of $29 per sq.ft., accordingly. Experts state that up to 2023-2025, the office vacancy rates in Boulder will decrease to about 6%. Both Grade A and B venues will continue to attract tenants in the region.
