• Negative net absorption of 143,228 sq. ft. was recorded in Q2 2020— bringing the year-to-date net absorption down to negative 32,133 sq. ft.
  • The average direct asking lease rate was $35.00 per sq. ft. FSG in Q2 2020, down $0.21 from Q1 2020.
  • Direct vacancy in the submarket increased 34 bps to 14.7% while overall vacancy increased 88 bps to 17.7%.
  • Sublease availability increased 34.7% from Q1 2020 to 1.7 million sq. ft. with the largest spike in Class B space.
  • Nearly 1.5 million sq. ft. of office construction was underway in downtown Denver, accounting for 39.7% of all office development in metro Denver.
  • Leasing activity totaled 2.1 million sq. ft. over the past four quarters, down 40% year-over-year.