• Due to several sizable occupancies, downtown Denver posted 247,000 sq. ft. of positive net absorption in Q3 2020—bringing the year-to-date volume to 215,000 sq. ft.
  • The average direct asking lease rate remained stable quarter-over-quarter at $35.02 per sq. ft. FSG
  • Total vacancy increased 30 bps quarter-over-quarter to 18.0%. Direct vacancy dropped 70 bps to 14.0%.
  • Sublease availability climbed to 1.9 million sq. ft., up 52.0% from Q1 2020.
  • Construction activity remained elevated with 1.5 million sq. ft. underway—1.4 million sq. ft. of the volume is speculative.