Denver Office Market
| Median Asking Rent (Price/SF) | $27.79 |
| Vacancy Rate (%) | 17.42% |
| Net Absorption (SF) | -1,491,739 |
Denver’s office sector has seen year-long disruption with the looming uncertainty of the pandemic and stay-at-home orders. With a vaccine hopefully delivered throughout Denver by the end of 2021, more companies will be willing to make long-term commitments. Currently we are at record highs of negative absorption throughout the major submarkets. Many tenants are reassessing their needs for office space.
Download Denver Office Market Report 4Q20Denver Industrial Market
| Median Asking Rent (Price/SF) | $8.75 |
| Vacancy Rate (%) | 6.6% |
| Net Absorption (SF) | 22,953 |
The Denver Industrial Market posted 23,000 square feet of net absorption for the fourth quarter of 2020. The annual net absorption totaled 2.3 million square feet, the highest of any asset class in Denver. The pandemic has proved to be a beneficial time for the industrial sector, as more companies are expanding for last mile delivery. E-commerce is at an all-time high and is projected to continue to expand. Vacancy was 6.6% in quarter four, up from 6% a year ago. Development continues within the Denver industrial market and vacancies continue to rise, as there is more space than available tenants.
Download Denver Industrial Market Report 4Q20