File Photo
Lease rates for Class A and B office space in Colorado Springs stood at at $17.01 per square foot in the first quarter of 2021, up for both the fourth quarter of 2020 and year over year, according to MarketView, a quarterly newsletter from Principals Greg Phaneuf and Peter Scoville of Cushman & Wakefield.
Phaneuf and Scoville anticipate lease activity to continue on a gradual upward trajectory this year.
âWhile we have not had robust lease activity, we have also not had a big give-back of space (with the exception of a couple of call center operations,â the newsletter stated.
Lease activity for tenants looking for less than 5,000 square feet remained strong through the end of last year and into 2021, according to the newsletter.