Denver Adds 15.8M SQFT of Office in 10 Years
The latest COMMERCIALCafé study looks not only at how much office space 20 of the top U.S. markets have added in the past 10 years, but also at where this space was added — CBDs vs. urban vs. suburban areas.
Using data provided by Yardi Matrix, the study identified properties with at least 25,000 square feet across 20 top markets based on primary and secondary locations.
- Denver increased its office inventory by 10.2% over the past 10 years, adding 145 buildings totaling 15.8 million square feet to the market.
- Suburban areas grew roughly 8.3%, accounting for 9.6 million square feet across 102 properties.
- Urban areas inventory saw a bigger growth rate, 22.6% — 4.8 million square feet across 40 properties, while Denver’s CBD added 3 properties totaling 1.4 million square feet.
- The Western region added 58.4 million square feet in total, 43 million of which was in suburban locations.
- Campus-style tech companies greatly influenced the suburban expansion throughout the U.S.
Read more and have a look at the methodology here