Brief

Denver Office Sublease Space: Analysis & Post-Covid Trends

June 2, 2023 10 Minute Read

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- Since Q1 2020, sublease availability in the Denver metro has increased from 2.5 million to 6.6 million sq. ft., a 160.6% increase.

 

- Class A sublease space in the metro increased 55.2% from Q1 2020 to Q4 2020, while Class B sublease space increased 136.2%.

 

- Both the Downtown and Southeast submarkets saw a jump in spaces over 75,000 sq. ft. over the course of 2022, increasing from a combined six availabilities in Q1 2022, to 14 availabilities in Q1 2023.

 

- If all factors remained the same and no sublease availabilities were leased or reoccupied, the Denver metro direct vacancy rate would increase 210 basis points from Q1 2023 to 19.8% by the end of 2025.