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Denver Market Reports

Denver Office Market

Average Asking Rent (Price/SF) $26.12
Vacancy Rate (%) 15.1%
Net Absorption (SF) 228,754

Denver's office market continued in its eighth straight year of expansion, as a net 228,754 square feet was absorbed in the second quarter of 2017, and year-to-date absorption reached 385,414 square feet. Vacancy was 15.1%, up from the 14.5% rate posted in the prior quarter and up from 14.0% one year ago. This vacancy increase was due to the delivery of four projects, two of which having strong pre-leasing with occupancy staggered over the next few quarters. The Denver office market has enjoyed an impressive expansion run lasting 30 straight quarters, resulting in a total of 8.7 million square feet of net absorption.

Denver Industrial Market

Average Asking Rent (Price/SF) $8.43
Vacancy Rate (%) 4.4%
Net Absorption (SF) 917,716

Over the past five years, the second quarter has proved to be when the Denver industrial market begins to set the pace for the past several years. As new deliveries and absorption have gone hand-in-hand, new construction emerging from the winter months has once again put the market on track for another year in expansion mode. The market realized its twenty-second consecutive quarter of positive net absorption with 917,716 square feet absorbed in the second quarter of 2017, bringing year-to-date absorption to 1.0 million square feet. Vacancy rose to 4.8%, up slightly from both the previous quarter and year-over-year. This increase was largely due to over 400,000 square feet of new construction delivering vacant, although an additional 1.4 million square feet of space delivered fully occupied during the quarter.

Denver Office Market Report
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Denver Industrial Market Report
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