DENVER—Denver's office market posted exceptional results in the first quarter of 2015. With first quarter performance showing strong absorption, declining vacancy and average asking rental rates reaching all-time highs, the Denver office market is thriving and competitive, says the local office of Avison Young.
The firm has released its Q1 2015 Denver Office Market Report, which forecasts more of the same in 2015 “depending on how oil price volatility affects leasing activity.” Development has remained vibrant with 2.4 million square feet under construction at the conclusion of the quarter.
“The Denver office market is still strong, but oil and gas sublease space and new construction deliveries may soften the market,” said Alec Wynne, principal and managing director of the company's Denver office.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
