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Moving your company to downtown Denver? You’ll have to compete with tech and coworking firms for space

• Once thought to be a one-horse town, downtown Denver has distanced itself from an over-dependence on energy firms alone and has attracted a diverse mix of companies—with two industries leading the way.    

• Nearly three of every five square feet leased by new-to-CBD tenants since 2014 has been taken by a technology or a coworking firm.  Tenants, both new-to-Denver and those relocating from the suburbs, have flocked to the downtown area in search of office space.  The talent, location and amenities are hard to beat.

• While many of the technology firms who have relocated to the CBD have long been in the suburban Denver market, every single one of the coworking firms are either new to Denver or are expanding to new locations downtown.  In other words: coworking is in growth mode with every deal counting toward positive absorption.

• This combination of industries is expected to continue broadening, and the CBD office market will reap the benefits.  From new construction to increased amenities, tenants and landlords alike will remain focused on growing their footprints within the urban core. 

Source: Bureau of Labor Statistics, EMSI, JLL Research

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