Denver Medical Outpatient Building Figures H2 2025

‒      Metro Denver’s medical outpatient building market posted 16,000 sq. ft. of positive net absorption in 2025. Positive 162,000 sq. ft. of total net absorption was recorded in 2024.

‒      Direct vacancy rose slightly in 2025 to 5.7%, increasing 40 basis points (bps) from a year earlier and just 10 bps since 2023.

‒      No new projects broke ground or delivered in the second half of 2025, keeping the total under construction volume flat at 325,000 sq. ft.

‒      In 2025, thirteen transactions occurred with a total sales volume of $102 million, a slight decrease from the $115 million seen in 2024.

‒      The average direct asking rent experienced an increase of 4.0% compared to 2024, rising to $33.99 per sq. ft. FSG. The Southeast submarket had the highest direct asking rents at an average of $35.97 per sq. ft. FSG followed by the North submarket at $35.66 per sq. ft. FSG.