An article from the Rocky Mountain News, reports that according to a study by Sam DePizzol and Greg Holm, both of CB Richard Ellis, today's office lease rates are 49% of what they were in the early 1980s.  They say given the tight capital markets, there seems little chance that speculative building, with little pre-leasing, will go forward.  Holm and DePizzol do not expect a big drop in downtown lease rates, but they do expect a stable office market the next two to three years.  Executive vice president of the Metro Denver Economic Development Corp., Tom Clark, agrees that with conservative underwriting standards, lenders won't provide money for office construction without substantial pre-leasing.
http://www.rockymountainnews.com/news/2008/may/21/denver-office-market-stable-report-shows/

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