Denver office market approaches a sense of normalcy as deal volumes rebound to pre-pandemic levels
The Denver office market continued to exhibit signs of late-pandemic revitalization in the first quarter. Transaction activity in the first quarter closely mirrored that of the previous period, with 2.1 million square feet (msf) transacted. This volume marked the second highest leasing tally since the start of the pandemic. While the Omicron variant delayed some leasing decisions as well as office reopenings, Denver companies in general have exhibited a recommitment to the office workplace. Leasing in the Central Business District was at its highest level in nearly three years, with more than 500,000 sf transacted this quarter. Likewise, the Southeast submarket observed its best quarter in over four years.