Broomfield Real Estate

Recent layoffs at Level 3 Communications Inc. in Broomfield real estate foreshadow a slowing tech real estate market in the area, city officials and real estate agents say. Level 3 laid off 1,400 employees last week, 500 of which were in Colorado and mostly in Broomfield real estate. Level 3 may consolidate its Colorado offices and move those employees to the Broomfield real estate office, said Charles, assistant city manager. City officials hope the impact of the layoffs will be lessened by the movement of new employees to the Broomfield real estate office.
Reporting in a conference for Colorado homes for sale, Charles noted: "If they bring in those jobs here that kind of negates those kind of effects.” Although the company will most likely lease the two new buildings -- amounting to 350,000 square feet, it is building outside Interlocken, those subleases should not negatively affect Broomfield real estate, Charles said. Regardless, Broomfield real estate will benefit from taxes on those properties, he said. "It may affect what could have been in terms of expansion," Charles said.

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Broomfield Real Estate

He would not comment directly on the fate of the new Level 3 buildings, but said there isn't a lot of demand from companies looking to sublease a large space. With the price per square foot for commercial real estate space increasing according to the Boulder MLS, companies that are offering subleased space are having to offer it for a lower price than before. Many of the smaller users looking for office space to sublease in Broomfield real estate are not tech-related companies, Hart said. Charles said those companies could help stabilize the commercial real estate market in Broomfield real estate. "The more diverse the economy the better for the community," he said.

Rick, a local Denver Colorado commercial real estate agent, said the Interlocken area in Broomfield Colorado real estate, will survive the downturn over the long term, but this year the real estate market won't get better. "As the tech market goes so does the Broomfield real estate market for high-tech space in the corridor," he said. "The market for real estate in the high-tech areas is bad." Hart said interest in commercial real estate in Broomfield real estate has picked up over the past few weeks and will continue to do so. "It'll take a little bit longer than it has in the past," he said. "I'm very optimistic. We're at a point where it's just going to turn the other way now." He said he's seen a few companies interested in smaller space around Interlocken over the past few weeks.

Broomfield real estate: Inspired by Denverpost.com June 27, 2001 article.

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