• Metro Denver posted 934,000 sq. ft. of negative absorption in Q4 2020, bringing 2020 annual net absorption down to negative 1.1 million sq. ft.
  • The average direct asking lease rate increased $0.09 to $29.11 per sq. ft. FSG.
  • Total vacancy increased 94 bps quarter-over-quarter to 15.9%, the highest rate metro-wide since Q4 2011.
  • Sublease availability climbed to 4.7 million sq. ft., up 2.2 million sq. ft. or 86.1% from the onset of the pandemic in Q1 2020.
  • Five buildings delivered in Q4 2020, adding 415,000 sq. ft. to the Denver office market. Over 3.0 million sq. ft. was under construction at the end of Q4 2020.
  • Investment sales improved in Q4 2020, recording $207.5 million in transactions. Annual activity declined by 37.6% to $1.7 billion.