2022 Denver Office Market Outlook

As we enter our third year of the COVID-19 pandemic, the Denver office market is beginning to look more familiar to those of us who have been here awhile – even if we are far from the boom we were experiencing prior to the pandemic. Leasing activity picked up considerably in the latter half of 2021 as vaccination rates increased and companies expressed higher confidence in returning to the office. With little to no signs of that changing as we enter a new year, it’s still very much a tenant’s market.

While current leasing activity within Denver’s office market is still dominated by short-term leases, co-working spaces and downsized office spaces, we’re seeing companies starting to evaluate more long-term strategies. Taking into account market uncertainty, high construction costs, and the growth of hybrid work environments, many companies are thinking about their real estate and its impact on their operations in new ways that allow for continued growth.

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