• Metro Denver posted 194,000 sq. ft. of direct negative net absorption in Q3 2021—the highest total since Q2 2020.
  • The average direct asking lease rate increased $0.31 quarter-over-quarter to $31.47 per sq. ft. FSG.
  • Leasing activity totaled 1.4 million sq. ft. in Q3 2021, marking two straight quarters of the highest leasing activity since Q1 2020.
  • Total vacancy rose marginally on a quarter-over-quarter basis, increasing 20 bps to 19.4%.
  • 900,000 sq. ft. was under construction at the end of Q3 2021 with only one property breaking ground this quarter.
  • 89,000 sq. ft. of speculative development delivered in Q3 2021—notably 240 Saint Paul in the supply-constrained Cherry Creek submarket.
  • Investment sales recorded a robust quarter of activity, posting a total volume of $1.1 billion across nineteen transactions for an average price per sq. ft. of $344.00.