Denver Office Market
Absorption in the second quarter of 2025 was dominated by companies downsizing while moving to higher quality space or consolidating existing locations. The 297,000 SF Steel House in the LoDo/CPV micro market Downtown delivered vacant. Median asking rental rates saw some decrease in submarkets that have had new mid- to low-quality become available at lower rates as well as top-quality space at the highest rates leased and taken off the market.
Download Denver Office Market Report 2Q25Denver Industrial Market
The second quarter recorded absorption of 165,744 SF, bringing annual absorption of 513,548 SF. Over 900,000 SF was delivered vacant, pushing vacancy up despite the positive absorption. Leasing activity increased from the previous quarter but total leasing activity over the first half of 2025 trailed behind the same period in 2024, both in number of leases signed and total SF leased.