Denver Office Market
Net absorption in 3Q 2025 showed a continued drop in occupancy at a pace similar to the previous quarter, as large tenant moves were driven by rightsizing into higher-quality assets or consolidating locations. The 84,000 SF Milwaukee Place in the Cherry Creek micromarket in Midtown broke ground. Median asking rental rates saw little movement as fluctuations are largely due to the changing quality of available space, rather than individual landlords adjusting prices on existing available space.
Download Denver Office Market Report 3Q25Denver 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.