The Denver Office market ended the first quarter of 2018 with a vacancy rate of 10.6%. The vacancy rate was unchanged over the previous quarter, with net absorption totaling positive 724,747 square feet in the first quarter. Vacant sublease space decreased in the quarter, ending the quarter at 1,868,334 square feet. Rental rates ended the first quarter at $26.43, an increase over the previous quarter. A total of nine buildings delivered to the market in the quarter totaling 880,142 square feet, with 4,238,124 square feet still under construction at the end of the quarter.