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Market Report

Denver Office Investment Forecast

2020 Outlook

Light-Rail Expansion Highlights Office and Investor Demand in the Mile-High City

 

Denver’s office market remarkably resilient with conditions healthy. Developers have remained disciplined when considering new projects over the past few years. Even speculative office space is largely focused in the major office districts of LoDo, the CBD and near the Denver Technology Center. FasTracks, the nation’s largest transit expansion plan, is attracting both speculative projects and office-using tenants seeking locations near new stations. Transit-oriented developments account for a significant share of development, and more than a dozen new stations are underway, providing ample opportunities for new projects. However, uncertainty following WeWork’s failed initial public offering could bring space in the city’s core back onto the market. The coworking firm, which is the metro’s largest holder of office space, recently saw a developer back away from an impending lease. Nonetheless, the overall office market has a solid foundation and bright outlook.

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