Denver’s Commercial Real Estate Markets

The first 6 months of 2019 gave us some amazing statistics. Unemployment is hovering around 2.5%. While this is a hopeful sign for many, it makes finding needed employees difficult for some business sectors. It makes it doubly important to have a pleasant, efficient and easily accessible business location.

Office Market

Office space vacancy is 15.9% over all. The statistics on the left show great differences in various sub markets. Rates continue average on the upward trend, partly because new, more costly buildings are averaged into the mix along with  renovation of major first-class properties. The vacancy does give some room for negotiation on price and incentives.

SubmarketVacancy
Rate
Rent/SFRent
Growth
Inventory
SF
Sale Price/SFCap
Rate
Boulder5.30%$32.131.90%12,094,432$2976.30%
Boulder County11.20%$28.212.00%4,608,628$2486.70%
Arapahoe Rd5.60%$22.332.00%1,718,161$2036.80%
Aurora7.00%$21.444.10%9,443,999$1837.00%
Broomfield County5.00%$27.373.40%7,001,340$2067.10%
Capitol Hill5.50%$24.442.60%6,042,298$2346.70%
Centennial7.70%$22.882.20%3,562,926$1817.20%
CBD13.20%$34.016.70%28,041,230$3216.20%
Cherry Creek9.40%$35.313.20%3,349,889$3586.00%
Colorado Blvd/I-258.50%$25.334.20%5,875,237$2176.70%
Denver Tech Center16.10%$27.742.20%11,874,311$2186.70%
East Hampden10.10%$19.911.70%3,541,726$1587.10%
East I-70/Montbello6.00%$24.183.40%3,066,829$2176.60%
Glendale9.40%$25.164.20%5,225,232$1906.70%
Greenwood Village12.30%$26.611.50%9,572,588$2096.60%
Highlands Ranch8.90%$26.792.20%2,234,350$2157.10%
Inverness17.00%$24.612.10%6,108,914$2096.80%
LoDo7.70%$37.235.10%7,654,194$4086.00%
Meridian17.10%$27.951.80%3,434,520$2146.80%
North Denver6.40%$24.763.20%4,982,190$1937.40%
Northeast Denver3.70%$21.411.90%2,082,561$1737.30%
Northwest Denver11.20%$21.723.00%7,066,739$1827.20%
Panorama/Highland Park9.20%$26.622.00%3,738,532$2156.80%
Parker/Castle Rock6.20%$27.082.80%2,424,744$2417.00%
Platte River13.00%$40.036.50%4,482,010$4396.00%
South Midtown2.80%$25.372.40%3,336,801$2506.70%
Southwest Denver8.70%$19.71-1.70%10,128,142$1737.10%
West Denver7.60%$23.043.50%15,918,002$1966.90%
Lone Tree10.60%$29.522.40%3,159,048$2566.80%

Industrial Market

Construction of industrial space is going gangbusters with major distribution facilities being located here. The vacancy rate is currently 4.8%. This means that if you need a new location you should allow several months for a search and any modification needed, or even new construction.

SubmarketVacancy
Rate
Rent/SFRent
Growth
Inventory
SF
12 Mo Net Absorption SFSale
Price/SF
SW DIA/Pena Blvd9.30%$7.264.20%36,445,137$1,561,598$103
West Denver1.60%$12.063.30%23,454,636$564,910$138
East I-70/2702.40%$8.233.70%19,020,201-$76,263$109
Southwest C-4702.80%$12.453.40%11,079,310-$53,463$183
Centennial4.40%$12.253.90%10,785,870$302,450$182
Northwest Denver4.40%$9.983.90%14,516,667$156,613$137
Cent E I-70/Montbello4.20%$6.893.90%18,234,066-$304,674$106
Commerce City5.80%$9.723.80%13,240,618$111,443$142
Boulder4.30%$12.564.20%11,302,103$22,366$166
Boulder County6.30%$11.025.50%9,757,912$312,224$147
North Denver4.40%$10.821.70%9,994,957$1,070,778$132
Lower South Central2.30%$10.103.20%8,510,735-$35,817$154
Upper North Central6.00%$9.323.30%9,914,173-$105,855$126
DIA5.10%$10.153.70%9,410,800$481,798$132
Quebec St4.90%$7.704.10%11,241,706$354,518$110
Lower North Central2.80%$10.423.30%9,734,994$106,858$127
Lower Central4.60%$9.503.40%8,335,618-$30,369$121
Broomfield County9.50%$10.353.30%4,987,628$13,172$134
Upper South Central4.20%$10.563.50%4,475,586-$4,187$148
Mid Central2.80%$11.013.30%4,286,888$32,824$152
Glendale0.90%$11.713.70%2,643,152$59,049$174
Inverness5.00%$13.394.10%2,408,289-$19,430$174
Aurora6.20%$10.773.90%2,427,946$56,739$168
Southeast C-4702.90%$12.634.30%1,788,812$54,928$207
Highlands Ranch20.90%$13.903.80%1,776,167$27,044$166
Parker/Castle Rock7.50%$15.513.30%1,382,507-$11,882$207
Mid South Central1.40%$11.463.30%1,306,818$5,760$159
Meridian0.50%$15.073.20%699,640$19,192$189
Upper Central0.00%$14.553.40%440,939$0$205
East Hampden0.00%$15.024.30%145,557$1,246$213
Lakewood0.00%$11.804.10%126,348$0$137
Arapahoe Rd0.00%$14.023.90%45,398$0$245
Denver Tech Center0.00%$16.884.20%25,803$0$354
Greenwood Village0.00%$14.073.70%7,337$0$422
Contact

Would you like insight into submarkets, with details on buildings and spaces available?

303-628-0888 (o) — 303-917-0688 (m) — carol@chighre.com​

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