Leasing activity down in the Denver office market at mid-year 2022
The Denver office market reported a slowdown in leasing activity as occupancy requirements remained clouded amidst widespread adoption of the hybrid workplace model. While many companies have made the decision to expand or maintain current footprints, others have reduced their footprints as work from home and hybrid arrangements have become more entrenched. As a result, leasing activity of 1.4 million square feet (msf) in the second quarter 2022 was down 32% from 2.1 msf reported in the previous quarter. The largest deals executed this quarter included Sierra Space leasing 116,055 sf at 500 Eldorado Boulevard in Broomfield, Brownstein Hyatt Farber Schreck leasing 103,974 sf at 675 15th Street in the Denver CBD, and Gen II Fund Services leasing 72,914 sf at 6900 Layton Avenue in the Denver Tech Center.