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Tenant migration to CBD increasing in recent years

  • ​During the five-year period leading up to 2016, new-to-core tenants signed leases that increasingly represented a larger share of the CBD’s total annual net absorption; in 2012, 13.4 percent; in 2013, 31.2 percent; and in 2014 and 2015, 60.0 percent and 85.5 percent, respectively.
  • Since 2011, nearly 1.5 million square feet from 35 tenants who previously had no footprint in the Downtown area have been occupied there. These tenants represent Denver’s growing base of diversified users.
  • Of the 13 sectors represented in this migration, the top five are: Education at 19.0 percent, Healthcare at 15.0 percent, Technology at 14.0 percent, Energy at 11.0 percent and Real estate at 9.0 percent.
  • Looking ahead, expect more companies to flock to the core. Occupiers in financial services, business services and energy will continue to be among Downtown’s main players, but technology, education and leisure and hospitality are increasingly planting flags within the CBD. ​

Source: JLL Research​

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