Tech Firms Fuel Denver Office Boom Amid Record-Low Vacancies

Denver's office market is heating up in 2026, with Class A and prime buildings poised for vacancy declines after stabilizing at 19.9% and 27.2% by year-end 2025, according to CBRE's latest outlook.[1][5] Tech relocations are a key driver, as tenants prioritize high-quality spaces with amenities, widening the gap with distressed Class B and C properties.[1][5] Between 2018 and 2024, 23 companies relocated headquarters to metro Denver, ranking it sixth nationally, bolstered by its 14th-place CBRE ranking for tech talent.[4] Quantum computing and deep tech firms are fueling significant leases in the life sciences sector, where vacancy is stabilizing amid $228 million in Q3 2025 venture capital funding.[5] Landlords report robust demand for specialized infrastructure, with several large transactions absorbing new speculative construction set to deliver over 1.6 million square feet in early 2026.[5] This activity supports projected rent growth of 1-2% metro-wide and up to 5% in premium submarkets like Cherry Creek, amid limited construction.[1] Despite downtown challenges, with overall vacancy climbing to 38.2% amid exits like Freshworks' 44,000-square-foot departure, Class A segments are outperforming statewide.[6] Investors eye opportunities in Denver's tech, healthcare and energy-driven growth, targeting urban infill and industrial space.[3] CBRE predicts owner-favorable conditions by year-end as supply tightens and absorption improves.[5][8]