{"id":1004203591,"date":"2018-01-16T05:02:10","date_gmt":"2018-01-16T13:02:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004203591"},"modified":"2025-02-26T02:43:02","modified_gmt":"2025-02-26T10:43:02","slug":"companies-compete-for-space-in-denver","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/companies-compete-for-space-in-denver\/","title":{"rendered":"Companies Compete for Space in Denver"},"content":{"rendered":"<p>By Roxana Baiceanu<\/p>\n<div id=\"attachment_1004203593\" style=\"width: 410px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Office-using-employment-in-Denver-click-to-enlarge.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004203593\" data-attachment-id=\"1004203593\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/companies-compete-for-space-in-denver\/office-using-employment-in-denver-click-to-enlarge\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Office-using-employment-in-Denver-click-to-enlarge.jpg\" data-orig-size=\"1007,433\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Office-using employment in Denver, click to enlarge\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Office-using-employment-in-Denver-click-to-enlarge.jpg?w=1007\" class=\"wp-image-1004203593\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Office-using-employment-in-Denver-click-to-enlarge.jpg\" alt=\"Office-using employment in Denver, click to enlarge\" width=\"400\" height=\"172\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Office-using-employment-in-Denver-click-to-enlarge.jpg 1007w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Office-using-employment-in-Denver-click-to-enlarge.jpg?resize=300,129 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Office-using-employment-in-Denver-click-to-enlarge.jpg?resize=768,330 768w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a><p id=\"caption-attachment-1004203593\" class=\"wp-caption-text\">Office-using employment in Denver, click to enlarge<\/p><\/div>\n<p>On the back of robust economic growth, Denver\u2019s office market is expanding significantly. Businesses\u2014led by the technology, telecommunications and energy sectors\u2014are expanding in or relocating to the city, creating competition for space in the Central Business District (CBD) and suburbs such as Boulder and Centennial. To keep the momentum going, the metro is improving its infrastructure with public parking and transportation, boosting the live-work-play environment.<\/p>\n<p>Office vacancies average 13.9\u00a0percent in the metro, and demand for space has been consistently strong in recent years. Among the companies that have taken large blocks of space over the past four quarters are financial services firm TIAA, defense contractors AECOM and Raytheon, and media giant Comcast. Some 13 million square feet of space is available for lease, half of it clustered in the CBD and Tech Center submarkets.<\/p>\n<p>Absorption is healthy even as new developments are added at a fast pace throughout the metro. With more than 2 million square feet scheduled to come online in 2017 and about 4 million square feet under development, new supply is estimated to add more than 5\u00a0percent to the existing inventory of 114 million square feet. This construction boom might lead to an increase in vacancy and temper rent growth while the new space is absorbed. Transaction activity is expected to remain strong as investors are attracted to the market\u2019s strong performance and prospects for continued growth.<\/p>\n<p><a href=\"https:\/\/www.yardimatrix.com\/Media\/Downloads\/File\/368-Denver-Fall2017OfficeOutlook?utm_medium=Research-Center&amp;utm_source=CPE&amp;utm_campaign=368-Denver-Fall2017OfficeOutlook\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Read the full Yardi Matrix report.<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Led by technology, telecommunications and energy, businesses are expanding across the metro, intensifying competition for office space in both the CBD and the suburbs. <\/p>\n","protected":false},"author":1064,"featured_media":1004203592,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1587,21808,21742,21747,15],"tags":[],"class_list":["post-1004203591","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-denver","category-featured","category-latest","category-office","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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