• At least 40 tech companies expanded their presence in Colorado in the past year, with 400,000 sq. ft. of positive net absorption. The Downtown Denver submarket was the epicenter of technology growth with over 200,000 sq. ft. of positive net absorption. Southeast Denver, Colorado Springs and Fort Collins also had about 50,000 sq. ft. of positive net absorption by tech companies.

  • Colorado remained attractive to technology companies with strong population growth, a relatively low cost of living – especially in Colorado Springs and Fort Collins, sustained economic growth and an unmatched entrepreneurial spirit. At least fourteen companies, including three from abroad, opened offices or moved their HQ to Colorado.

  • In 2016 technology remained the largest industry represented in Denver office leasing activity with more deals and more sq. ft. leased than previous years. As a share of total office leasing activity, technology’s share dipped slightly from 16.1% to 14.2% as financial and business services companies also made large moves in the market.

  • New and start-up companies often lease co-working space, which is readily available in metro Denver with a 1.3 million-sq.-ft. footprint. Companies that are rapidly expanding look for well-located offices with attractive amenities and cost-effectiveness. Both suburban and downtown markets have gained attention from incoming or growing tech companies.

  • Venture Capital (VC) funding for Colorado tech companies took a hit last year, dropping from $789 million in 2015 to $339 million in 2016. This followed the national trend of a VC funding slowdown, which acted as a market correction. In 2017, VC funding for Colorado companies is back up and by Q2, year-to-date funding rivaled total 2016 funding.