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Denver Office Leasing Activity Improves
CBRE released the Q1 2025 Denver Downtown Office Figures.
Leasing activity declined this quarter but showed considerable improvement over the past 12 months. Rolling-four-quarter activity totaled 2.2 million square feet, an increase of 52.6% year over year.
The total vacancy rate increased by a slight 30 bps (basis points) quarter-over-quarter and was up 230 bps year-over-year to reach 35.3%.
This quarter saw a notable improvement in total net absorption, with just negative 86,000 square feet.
Downtown sublease availability fell for the fourth consecutive quarter, suggesting more stabilization among companies impacted by remote and hybrid work models.
Sublease availability decreased by 214,000 square feet to 1.5 million square feet and was down 12.4% year-over-year.
- ◦Economy
