Twenty properties totaling nearly 3.3 million square feet of office space are coming together in the Denver metro area, according to recent CommercialEdge data on the local activity.
Before the beginning of the pandemic, Denver was one of the nation’s most promising office markets thanks to such criteria as its highly ranked education system, an educated workforce, a variety of lifestyle amenities and an environment that is exceedingly business-friendly.
And while the Coronavirus has understandably slowed or halted new office construction in the region (as well as nationwide), 20 properties totalling over 3.3 million square feet of office space were under construction as of spring of this year.
Nearly all of the projects are set for delivery this year, much of that thanks to the presence of large and/or local companies such as Ent Credit Union and Kiewit. While the state of preleasing has been slow to fill up, it is picking up speed as we move further into the year.
There have been two properties delivered thus far in 2021, totalling 389,863 square feet, the largest of which was Denver Health’s 293,000-square-foot Outpatient Medical Center—a clear sign indicating heightened demand for physical office space.
Here are the top five largest office projects underway in the Denver metro area:
|1||Block 162||584,737||Central Business District||Patrinely Group||Q2 2021|
|2||4885 S. Quebec St.||355,419||Denver Tech Center||Stonebridge Cos.||Q1 2022|
|3||9480 Federal Drive||300,000||Colorado Springs||Ent Credit Union||Q2 2021|
|4||Kiewit Regional Headquarters – Building 1||252,000||Meridian||Kiewit||Q2 2021|
|5||One Platte||238,811||Denver – Highland||Nichols Partnership||Q1 2022|
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