• Downtown Denver posted 57,000 sq. ft. of negative net absorption in Q4 2020—ending 2020 with 158,000 sq. ft. of positive net absorption.
  • The average direct asking lease rate increased $0.14 quarter-over-quarter to $35.16 per sq. ft. FSG.
  • Total vacancy increased 63 bps quarter-over-quarter to 18.6%. Direct vacancy increased 36 bps to 14.4%.
  • Sublease availability increased at a slower rate compared to previous quarters but remained elevated at 2.0 million sq. ft. This is a 56.1% uptick in volume from March 2020.
  • There was 1.4 million sq. ft. of spec construction underway in Q4 2020 with over 1.0 million sq. ft. of this space set to deliver in early 2021.