Denver Commercial Real Estate

Denver Commercial and Office Space Overview

The largest city and the capital of Colorado, Denver is a major economic and tourism force in the western United States, offering an expanse of cultural and economic attractions throughout the region. The largest city in a 500-mile radius of its limits, Denver is poised for continued economic growth as new industries, technologies, and cultural endeavors continue to call the city home.

With a population of 700,000, Denver is not only one of the fastest growing cities in the nation, but it’s been designated a Beta-world city by the Globalization and World Cities Research Network, meaning the industries operating within Denver have placed it squarely on the global trade stage.

A strong labor market and bustling commercial activity makes it attractive for new businesses or companies looking to rent office space Denver. In particular, the Denver metro area is still showing strong signs of new commercial development activity, from new office buildings to a developing boom in new retail centers.

Economy of Denver

Denver’s median household income in 2016 was $56,258, placing it much higher compared to the rest of the state and the nation as a whole. As the nation’s 19th largest metro economy, Denver’s economic growth over the last decade has been driven largely by an increase in manufacturing and technology sectors.

Denver residents work in such industries as healthcare, professional and business services, technical services, and scientific industries, but innovation and entrepreneurship is a major driving force in Denver, resulting in new technologies and support services for the state’s thriving recreational cannabis market.

Despite the misleading income levels for the city itself, many of Denver’s residents and workers live outside the city’s limits, enjoying growing neighborhoods and suburban areas like Cherry Creek, LoDo, Capitol Hill, and Washington Park as more young couples and working professionals flock to Denver’s expanding economy.

Trends of Denver

As with many cities its size, Denver continues to provide growth in plenty of economic and cultural attractions despite rising housing prices and cost of living increases over the last several years. Construction projects for residential, retail, and commercial real estate can be found throughout the city’s downtown region and beyond, transforming the once sleepy mountain town into a modern and thriving urban environment.

In addition to the advances in technological infrastructure that has attracted economic investment and growth, the city’s proximity to near-limitless outdoor activities and a laid-back lifestyle have attracted significant growth in the city’s professional talent pool. Tourism, entertainment, and outdoor adventures are major economic and cultural driving factors in Denver, with new residents seeking a unique and exciting lifestyle without the expense of larger coastal cities.

Office Space for Rent in Denver

The downtown area remains an economic powerhouse for commercial real estate to those looking for office space for rent in Denver, offering exposure and visibility not found throughout the city’s developing neighborhood and suburban areas. But a variety of locations offer different leasing opportunities depending on the nature of the business, providing plenty of space for manufacturing, engineering, and warehouse facilities. For those in business or professional services - including retail and other industries reliant on pedestrian foot traffic - leasing office space and exploring commercial real estate opportunities in the downtown area continue to provide the best economic return. That said, companies looking to expand their profile and attract some of the nation’s top talent should strongly consider renting office space in the greater Denver area, where available office and commercial real estate listings are averaging $32 per square foot/year.