Denver Office Market Report Q1 2026

Newmark's Denver Office Market Overview for first quarter 2026 documents negative net absorption of 249,270 square feet and a vacancy rate of 31.1 percent, though this represents improvement from prior-year declines, while leasing activity surged 43.5 percent sequentially to 2.1 million square feet as median asking rents held relatively stable at $32.15 per square foot. Office-using employment sectors contracted year-over-year amid an unemployment rate of 4.2 percent, though the University of Colorado projects economic headwinds will ease in 2026 to improve hiring and employment growth.