Denver Office Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from Cushman & Wakefield, JLL, CBRE, Newmark
Quarterly office market indicators for Denver, aggregated by CREhunt from Cushman & Wakefield, JLL, CBRE, Newmark. As of Q2 2026, average asking rent was $33.60/SF/yr and vacancy was 26.6%, per Cushman & Wakefield.
Projected current office pricing — Denver
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Denver office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q2 2026 Cushman & Wakefield asking-rent data (benchmark cap rate 6.5%–8.6%, asking rent held flat). Assumes ~73% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 Cushman & Wakefield | $33.60/SF/yr | 26.6% | 120K SF | — | Cushman & Wakefield |
| Q1 2026 JLL | $35.22/SF/yr | 27.1% | -160K SF | — | JLL |
| Q1 2026 Cushman & Wakefield | $33.50/SF/yr | 26.5% | -181K SF | — | Cushman & Wakefield |
| Q1 2026 CBRE | $34.13/SF/yr | 28.7% | — | — | CBRE |
| Q4 2025 Cushman & Wakefield | $33.52/SF/yr | 26.3% | 228K SF | — | Cushman & Wakefield |
| Q3 2025 Cushman & Wakefield | $33.50/SF/yr | 26.0% | -293K SF | — | Cushman & Wakefield |
| Q3 2025 Newmark | $32.25/SF/yr | 30.6% | -442K SF | — | Newmark |
| Q2 2025 Newmark | $32.30/SF/yr | 30.2% | -453K SF | — | Newmark |
| Q2 2025 Cushman & Wakefield | $20.00/SF/yr | 22.6% | 500K SF | — | Cushman & Wakefield |
| Q1 2025 Newmark | $32.50/SF/yr | 29.8% | -1.2M SF | — | Newmark |
| Q4 2024 Newmark | $32.25/SF/yr | 28.7% | -987K SF | — | Newmark |
| Q4 2024 Cushman & Wakefield | $32.00/SF/yr | 25.0% | -235K SF | — | Cushman & Wakefield |
| Q3 2024 Newmark | $32.20/SF/yr | 28.6% | -259K SF | — | Newmark |
| Q2 2024 Cushman & Wakefield | $8.40/SF/yr | 21.8% | 2K SF | — | Cushman & Wakefield |
| Q2 2024 Newmark | $32.59/SF/yr | 28.1% | — | — | Newmark |
| Q1 2024 Newmark | $32.30/SF/yr | 27.5% | — | — | Newmark |
| Q4 2023 Newmark | — | 26.9% | — | — | Newmark |
| Q3 2023 Newmark | $31.68/SF/yr | 26.5% | — | — | Newmark |
| Q2 2023 Newmark | $31.40/SF/yr | 25.3% | — | — | Newmark |
| Q1 2023 Newmark | — | — | — | 2.0M SF | Newmark |
| Q4 2022 Newmark | — | — | 93K SF | 1.0M SF | Newmark |
| Q3 2022 Newmark | — | 23.1% | -827K SF | 1.0M SF | Newmark |
| Q2 2022 Newmark | — | 22.2% | -626K SF | 1.0M SF | Newmark |
| Q3 2021 Newmark | $31.35/SF/yr | 24.2% | -87K SF | — | Newmark |
Office asking rents by submarket
The newest asking rent a named brokerage's report published for each Denver office submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| Aurora | $21.28/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Aurora/Northeast | $21.62/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Boulder | $41.67/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Capitol Hill | $28.08/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| CBD | $39.85/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Cherry Creek | $39.03/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Colorado Blvd/Midtown | $27.34/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Downtown | $41.33/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Longmont | $21.95/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Midtown (Non-CBD) | $27.84/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| North | $24.00/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Northeast | $26.68/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Northwest | $29.28/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| RiNo | $50.82/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| River North | $50.22/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Southeast | $29.34/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Southeast Central | $28.96/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Southeast Suburban | $28.00/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Southwest | $22.68/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| West | $26.90/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| West Hampden | $20.56/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
How the brokerage sources compare
For Q1 2026, the brokerages CREhunt aggregates for Denver office did not fully agree. On vacancy, the sources span 2.2 points — from 26.5% (Cushman & Wakefield) to 28.7% (CBRE). Asking-rent estimates differ by $1.72/SF/yr — from $33.50/SF/yr to $35.22/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.
| Source | Vacancy | Asking rent | Cap rate |
|---|---|---|---|
| CBRE | 28.7% | $34.13/SF/yr | — |
| Cushman & Wakefield | 26.5% | $33.50/SF/yr | — |
| JLL | 27.1% | $35.22/SF/yr | — |
Per-brokerage figures for Q1 2026, aggregated from published brokerage market reports.
Frequently asked questions
- What is the average asking rent for office space in Denver?
- As of Q2 2026, the average asking rent for office space in Denver was $33.60/SF/yr, per Cushman & Wakefield.
- What is the office vacancy rate in Denver?
- The office vacancy rate in Denver was 26.6% as of Q2 2026 (Cushman & Wakefield).
- Where does CREhunt's Denver market data come from?
- This report aggregates quarterly office market data for Denver from Cushman & Wakefield, JLL, CBRE, Newmark.
- How much do brokerage estimates differ for office space in Denver?
- For Q1 2026, the brokerage sources CREhunt aggregates for Denver did not fully agree. On vacancy, the sources span 2.2 points — from 26.5% (Cushman & Wakefield) to 28.7% (CBRE). Asking-rent estimates differ by $1.72/SF/yr — from $33.50/SF/yr to $35.22/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.