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Denver Market Reports

Denver Office Market

Average Asking Rent (Price/SF) $28.12
Vacancy Rate (%) 15.9%
Net Absorption (SF) 1,006,612

Denver's office market continued full steam ahead in its ninth straight year of expansion, as net absorption in the second quarter of 2018 surpassed 1.0 million square feet. Vacancy was 15.9%, down slightly from 16.0% in the prior quarter and up from 15.3% one year ago. Vacancy will likely continue to fall over the next several quarters, as tenants, many of them new to the Denver market, occupy space leased in both new and existing buildings. The Denver office market has enjoyed an impressive expansion run lasting 34 consecutive quarters, resulting in a total of 10.7 million square feet of net absorption, 8.4 million square feet of new deliveries and a 412-basis-point plunge in vacancy.

Denver Industrial Market

Average Asking Rent (Price/SF) $8.77
Vacancy Rate (%) 4.9%
Net Absorption (SF) 580,344

Denver's industrial market continued to outpace the previous year's growth, as year-to-date net absorption in the second quarter of 2018 reached 1.6 million square feet. Vacancy was 4.9%, up slightly from 4.6% in the prior quarter but down from 5.3% one year ago, largely because of six buildings totaling 952,882 square feet delivering vacant. New deliveries in coming quarters will mean that vacancy will also continue to inch upward, as not all of the large buildings scheduled to deliver are entirely pre-leased. The Denver industrial market has enjoyed an impressive expansion run lasting 26 consecutive quarters with record-breaking deliveries, absorption, rental rates and vacancy in that time.



Denver Office Market Report
2Q18
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Denver Industrial Market Report
2Q18
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