Denver, CO Office Space for Lease or Rent

Denver, CO Office Overview

Notable Denver commercial real estate scenes include the Capitol Hill, Cherry Creek, and Five Points office submarkets. With a metropolitan population of over 2.8 million people, Denver is the capital of Colorado, and the most populous city in the State. A strong blend of aerospace, telecommunications and technology industry create a robust demand for Class A office space in the market.

As of mid-2017 the Greater Denver office market encompasses nearly 53 million square feet of existing office space in properties larger than 50,000 square feet. Denver's central location in the U.S. attracts both traditional and high-tech business that require Class A office space and help to drive the ongoing growth of the Denver commercial real estate market.

Denver, CO Office Inventory Description

Recently named the best place to live by U.S. News & World Report, Denver attracts the well- educated and highly skilled work force that the growing industry in the city requires. With a gross metropolitan product of over $178 billion annually the demand for white-collar office space in Denver remains strong. Nearly 67% of the office space in Denver is Class A or A+, while Class B office space adds another 32% of product to the market.

The Central Business District office market in Denver is home to the world-class office property that both credit tenants and investors demand. Located north of the I-70 and west of North Broadway, this submarket is home to prime office buildings such as the Granite Tower on 18th Street, the 1515 Arapahoe Street office property, and the historic Kittredge Building at 511 16th Street.

Denver, CO Commercial Inventory Breakdown

Office Spaces

Total: 60,266,921 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

50k to 100k SF: 5,772,681 SF / 9.58% of total office
100k to 500k SF: 35,684,477 SF / 59.21% of total office
500k to 1M SF: 13,866,846 SF / 23.01% of total office
> 1M SF: 4,942,917 SF / 8.2% of total office

By class:

Class A+: 9,011,369 SF / 14.95% of total office
Class A: 33,393,052 SF / 55.41% of total office
Class B: 15,369,503 SF / 25.5% of total office
Class C: 428,641 SF / 0.71% of total office

Top 10 Largest Office Buildings

in Denver

Office building	Address	Sqft	Year built
Republic Plaza	370 17th Street, 80202	1,328,369	1982
1801 California	1801 California Street, 80202	1,315,536	1982
Wells Fargo Center	1700 Lincoln Street, 80203	1,204,089	1982
Tabor Center	1200 17th Street, 80202	1,094,923	1984
Denver City Center - 707 17th Street	707 17th Street, 80202	970,755	1981
Denver Place	999 18th Street, 80202	891,505	1981
Two Tabor Center	1200 17th Street, 80202	770,214	n/a
555 17th Street	555 17th Street, 80202	740,011	1982
1670 Broadway	1670 Broadway, 80202	704,065	1979
Wellington E. Webb Municipal Office Building	201 West Colfax Avenue, 80202	704,000	1968

Most Recently-Built Office Buildings

in Denver

Office building	Address	Sqft	Year built
The Dairy Block	1800 Wazee Street, 80202	372,945	2017
One Belleview Station	7001 East Belleview Avenue, 80111	328,000	2017
Union Tower West	1801 Wewatta Street, 80202	303,400	2017
Colorado Center - Tower Three	2000 South Colorado Blvd, 80222	232,444	2017
601 Broadway Street	601 Broadway Street, 80203	198,208	2017
Industry RiNo Station	3858 North Lafayette Street, 80205	152,000	2017
A Block	1881 16th Street, 80202	52,246	2017
1401 Lawrence	1401 Lawrence Street, 80202	311,015	2016
Industry	3001 Brighton Blvd, 80216	140,000	2016
1601 Wewatta Street	1601 Wewatta Street, 80202	299,534	2015

Denver, CO Green Office Space

Of the Top 30 Green Office Markets in the U.S., Denver ranks #7 for energy efficient office buildings. While nearly 5% of the office buildings larger than 50,000 square feet are LEED certified, just under 12% rank as Energy Star Certified and over 13% are recognized as green buildings.

The Union Tower West office building in the LoDo office submarket of Denver is an outstanding example of a green office building. Built in 2017, this 303,400-square- foot property boasts a LEED Gold certification. As tenants, national and global investors seek out green certified office assets for their use and portfolios, the green office trend will continue to grow in Denver.

Denver has ranked 7th on the 2017 National Green Building Adoption Index survey which looked at all commercial office properties in 30 major markets in the United States. The percentage of green certified buildings has increased nearly eight-fold, from less than 5% in 2005 to 38% through mid-2017.

Denver, CO's Top Office-Using Sectors

Denver is equidistant from Chicago, St. Louis, Los Angeles, and San Francisco, with the distribution and transportation sectors having a significant impact on the commercial real estate market in Denver. The energy & natural resources, aerospace, government, and telecommunications sectors are also significant creators of white collar employment and users of Class A office space in the city.

Energy & Natural Resources – Newmont Mining, Noble Energy, Anadarko, EnCana, and Haliburton all create robust demand for office space in Denver.
Aerospace – Lockheed Martin Corporation and United Airlines are two of the largest employers in Denver.
Government – As the capital city Denver is home to a large government white collar office employment base, with institutions such as the Denver Federal Center, Byron G. Rogers Federal Building, Denver Mint, and the National Renewable Energy Laboratory.
Telecommunications – The demand for white collar Class A office space in Denver is also driven by telecom companies such as Qwest Communications, Dish Network, and Comcast.

Denver Demographics

Population

Total Population649,654
Male Population(50.0 %) 324,730
Female Population(50.0 %) 324,924
Median Age34.10

Income/Financial

Average Household Income$79,959
Median Household Income$53,637
Median Income Under 25$30,237
Median Income 25-44$61,418
Median Income 45-64$58,388
Median Income Over 65$38,118

News

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November 16, 2018

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2018 Office Check-In: Top US Markets for Development, Largest Projects of the Year

September 20, 2018

We’re almost halfway through H2 2018, and it’s high time to check up on construction activity, as well as the state of the U.S. office pipeline when compared to previous analyses. Last year around the same time, we looked at top U.S. cities for office delivery during the fall-winter season, and ...

Cities near Denver, CO

Denver, CO zip codes

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Office Space for Rent in Denver, CO - 283 Listings