Marcus & Millichap has published its Q3 2026 Denver Metro Area Retail report.
“Denver’s resilient household spending capacity and restrained development pipeline continue to attract investment, even as retailers navigate softer near-term demand,” said Adam Lewis, senior managing director, market leader.
Key findings include:
- Retail transaction activity rose roughly 20% during the 12 months ended in June 2026, led by a 17% increase in deals priced between $1 million and $10 million.
- Single-tenant transactions increased 25%, while multi-tenant trades rose 11%. Transactions above $20 million also climbed, signaling stronger institutional confidence alongside private-buyer activity.
- Denver shed a net 4,100 jobs during the first half of 2026, although education and health services added more than 3,000 positions and leisure and hospitality gained 3,500 jobs.
- Average asking rent increased 4.1% year over year as of June despite 162,000 square feet of net relinquishment during the first half of 2026.
- The 2026 forecast calls for 304,000 square feet of retail space to be added, vacancy to increase 30 basis points to 5% and average asking rent to rise 0.5% to $21.40 per square foot by year-end.
“Investors are demonstrating confidence across property types and price ranges, while limited speculative construction should help Denver’s retail market work through recent demand pressures,” added Lewis.
Access the report here.
