Denver, CO office market
Denver's office market is sharply bifurcated: downtown and CBD buildings continue to trade at historic discounts of 80-95% off peak values due to a 38% vacancy rate, while premium submarkets like Cherry Creek command top dollar with vacancy near 4.7%. Investors are buying distressed downtown towers at land-value prices, while well-located Class A product in sought-after neighborhoods still fetches $500-$925 per square foot. The overall market shows early signs of stabilization heading into 2026, driven by the completion of the 16th Street Mall renovation and growing return-to-office trends, but a full recovery in the CBD is expected to take years.
What's driving Office prices in Denver
Denver office sale prices have diverged dramatically over the past 24 months: distressed CBD towers have sold at 75-95% discounts to prior peaks (some as low as $7/SF), while high-quality suburban and amenity-rich properties such as 255 Fillmore in Cherry Creek have transacted near or above $900/SF, making a single directional trend statement misleading for the market as a whole.
- Record-high downtown CBD vacancy (~38% at end of 2025) pushing distressed Class B/C sale prices to land value or below
- Cherry Creek and LoDo scarcity: Class A vacancy in Cherry Creek at 4.7%, the lowest on record, driving premium rents above $72/SF and sale prices above $900/SF
- Sublease inventory falling 11% year-over-year, signaling gradual absorption and early recovery pressure on asking rents
- $570M city bond program plus 16th Street Mall redevelopment completion injecting near-term optimism into downtown leasing fundamentals
Market intelligence
Tracking this market · 7 comps · 12-month median $569/SF · latest deal Jun 2026.
This quarter: 0 comps added to our corpus in Q3 2026. Trend medians use closed-deal dates from our growing comp corpus; automated estimates, not an appraisal.
Where these comps are
Pins are geocoded from each comp's public address, so positions are approximate. Comps quoted at the submarket level aren't pinned. The outlined area is Denver's municipal boundary. It carries no colour because this market has no current momentum read.
Recent Office comps in Denver, CO
| Address | Date | Type | Size (SF) | Price / Rate | $/SF |
|---|---|---|---|---|---|
| 410 17th St, Denver, CO 80202 news | Apr 2024 | Sale | 439000 | ~$20,000,000 | ~$46 |
| 621 & 633 17th St, Denver, CO 80293 news | Nov 2024 | Sale | 970000 | ~$7,000,000 | ~$7 |
| 1600 Stout St (Hudson's Bay Centre), Denver, CO 80202 news | Oct 2024 | Sale | 172912 | $8,950,000 | $52 |
| 707 & 717 17th St (Johns Manville Plaza), Denver, CO 80202 news | Nov 2025 | Sale | ~$28,700,000 each | ||
| 1246 Delaware St, Denver, CO 80204 listing | Oct 2025 | Sale | 1423 | $810,000 | $569 |
| 255 Fillmore St, Denver, CO 80206 news | Jun 2026 | Sale | 100000 | $92,500,000 | $925 |
| Denver Place, 1670 Broadway, Denver, CO 80202 news | Jan 2026 | Sale | 891505 | $47,500,000 | $53 |
| Median of 6 recent sales · $53/SF | $53 | ||||
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Figures are automated estimates derived from public listings, records, and brokerage announcements for Denver, CO, not an appraisal or a broker opinion of value. Verify independently before relying on them. CompNinja connects owners with licensed local brokers; it is not a brokerage.