Denver Office Market
The rate of new vacancies slowed in the second quarter of 2024 and absorption was nearly flat with negative 50,138 SF. Three buildings completed in the second quarter, the 704,000 SF 1900 Lawrence building and the 189,000 SF Paradigm River North in the Downtown submarket along with 50,000 SF Fillmore @ Third in Cherry Creek. Class A space continued to see the strongest leasing activity and further pushed up record-breaking asking rates, moving the overall median asking rate along with them, despite vacancy and availability increasing.
Download Denver Office Market Report 2Q24Denver Industrial Market
Quarterly absorption recorded 219,841 SF, down from the previous quarter but higher than the first quarter of 2023. Vacancy increased to 9.1% despite positive absorption due to 1.9MSF of spec space delivering vacant and with no pre-leasing.Activity maintained its more consistent, stable and moderate pace from the previous two quarters.
Download Denver Industrial Market Report 1Q24