Click on the reports below to get the latest updates on the Denver commercial real estate market.
3rd Qtr Office Market Report
As of 23Q3, Denver ranks among the worst-performing office markets in the U.S. with a vacancy rate of 16.1%, surpassing levels reached during the Great Recession and the dotcom bust. Many occupiers looking to offload space are offering substantially discounted space on the sublet market to attract prospective subtenants. The difference between average asking rents
Demand for retail space has pulled back in recent months across the Denver market. Retailers have a multitude of headwinds to contend with, including persistent high inflation, rising consumer debt, and a high interest rate environment that continues to weigh on consumer purchasing power. Store closings that were announced earlier in the year drove negative
Demand is moderating across Denver’s once-booming industrial market. Local population growth has slowed in recent years, just as inflation and economic uncertainties have accelerated. While leasing activity remained above the long-term quarterly average of 2.6 million square feet in 23Q2, this comes after the market logged upwards of 4 million square feet per quarter during
While demand has improved in the Denver multifamily market in 2023, the headwinds that caused the swift downshift in apartment activity in the second half of 2022 are still very much in play. Looming recession fears have some delaying household formation and domestic immigration, an important demand-driver for the Denver market, has contracted for the