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Market Report

Denver Office Market Report

Second Quarter 2019

Urban Core at Forefront of Healthy Office Market;
Vacancy Scheduled for Steep Drop

 

Downtown Denver becoming more attractive for Fortune 500 companies. As more high-profile businesses establish themselves in the Mile High City, the Denver office market continues to gain prominence. Luxury office space is being developed at a record pace, illustrating the persistent rise in demand. Availability of Class A office space remains on a downward trend as more corporations relocating from other parts of the country as well as local businesses transitioning from the suburbs vie for urban floor plates. In addition, coworking is beginning to play a significant role in space demand, headlined by WeWork, which is on track to grow its Denver footprint by more than 200 percent this year. Suburban submarkets are also performing well; however, space absorption is occurring at a more moderate pace.

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