Denver’s commercial real estate market has seen a decade-long success but, over that same period, the vacancy rate has increased to unprecedented levels. As of first-quarter 2021, the vacancy rate in Denver’s central business district stood at 16.8% – its highest level since 2010. According to CBRE vice president Hilary Barnett, the downtown office market is primed for a major turnover. The following are some of the factors to consider when leasing Denver office space.
The Denver office market has strong lease rates and activity. The city has a large number of large corporate companies that require large, multi-million-square-foot spaces for their operations. The Denver market is divided into three main market areas: Downtown, Midtown, and Suburban. Within the downtown area, the most active markets are LoDo, the Central Platte Valley, and the CBD. The suburbs of Denver are most active.
The Denver area is home to a large number of class-A office buildings. One Belleview Station, a 318,000-square-foot office building, has been completed with plans to add another 2 million square feet. The Village Center features several multi-story office buildings with over 900,000 square feet of office space. The city has a significant coworking scene with more than 50 coworking spaces. It is also a desirable location for growing companies.
The Denver office space market is known for its strong lease rates and activity. Many large corporates are located in this area. The downtown and midtown areas are the most active, with most of the office properties concentrated in these areas. The more suburban markets include the Glendale, Southeast Denver, and Colorado Boulevard. You can search for both long-term and short-term office spaces using the commercial real estate listing websites. There are also a number of rental options available.
Among all the options available for office space, Denver is also home to an upscale and dynamic suburban market. With strong demand for office property, Denver’s office market is booming. The region is made up of several distinct neighborhoods. For example, LoDo is the central business district. In the suburban area, Glendale is a hot spot. This district is also home to the largest concentration of corporate headquarters. The residential neighborhoods are located in the Central Platte Valley.
In Denver, CO, you will find a diverse selection of office space. The average size of an office space in this city is 155,013 square feet. Smaller businesses can choose a small space to accommodate their needs. The city has plenty of options to rent in Denver. You can choose between coworking spaces, and retail spaces, as well as industrial buildings. Depending on your business, you may want to consider the location of your new company.
7887 E. Belleview Avenue Suite 1100
Denver, CO 80111
303) 228-2280