Denver’s office market presents investors with a clear choice between Class A stability and Class B higher yields. This analysis compares vacancy rates, cap rates, leasing trends, and strategic fit for core, value-add, and opportunistic investors. The flight to quality has dramatically widened the performance gap between property tiers, making a side-by-side comparison essential for informed decision-making.

Denver’s office sublease market is showing meaningful improvement, with downtown sublease availability dropping 29.1% year-over-year to approximately 1.4 million square feet as of Q2 2025. This signals that many companies have completed post-pandemic space rationalization, and quality sublease inventory is being absorbed by tenants seeking below-market rents and move-in-ready space. SVN Denver Commercial explores what declining Denver office sublease space availability means for tenants, landlords, and the broader office recovery heading into 2026.

Downtown Denver’s office vacancy rate hit 37.7% in Q3 2025 — the highest level since the 1980s oil bust — driven by remote work, tenant flight to quality submarkets, and public safety concerns. Not all of downtown is equally distressed: LoDo and Union Station hover near 20% vacancy while upper CBD towers reach 40–46%. SVN Denver Commercial breaks down the causes, the signs of stabilization, and what the data means for investors and tenants navigating the market today.