Denver Office MarketView Q4 2017
- Positive net absorption of 254,358 sq. ft. was recorded in Q4 2017, bringing year-end 2017 net absorption to 1.4 million sq. ft. - up 4.7% from year-end 2016.
- The average direct asking lease rate increased to a record high of $26.54 per sq. ft. FSG, a 3.2% increase year-over-year.
- Direct vacancy increased slightly from the previous quarter to 12.8%, up 66 bps year-over-year.
- The largest transaction of the quarter was the landmark sale of 1401 Lawrence in Downtown Denver.
- Notable lease transactions in the quarter included Chipotle (152,000 sq. ft.) in 1144 Fifteenth and Western Union (88,000 sq. ft.) at 7979 E Tufts Avenue.