- Denver is entering a concentrated period of office lease rollover. Approximately 76% of identified lease expirations fall between 2027 and 2029, led by 32.8% in 2027, 30.3% in 2028 and 12.9% in 2029. Over the same period, $311 million of fixed-rate CMBS loans originated before 2021 are scheduled to mature, including $217 million in 2027, $35 million in 2028 and $59 million in 2029. This overlap creates a period of significant leasing and financing activity across the Denver office market.
- The overlap is particularly relevant as owners face a different financing environment than when many loans were originated. Loan maturities may coincide with lease expirations, tenant improvements, leasing commissions and changes in occupancy or NOI, making the quality and duration of property income increasingly relevant to refinancing and capital decisions. The 2027–2029 period will therefore require close attention to both property-level fundamentals and financing conditions.
- The concentration creates an opportunity for earlier planning across the market. Owners and investors can identify assets requiring leasing, refinancing, recapitalization or disposition strategies ahead of maturity, while brokers can engage landlords and tenants before upcoming lease events become immediate. Tenants can similarly use the rollover schedule to evaluate renewal, relocation, expansion or contraction options early. The ultimate impact will depend on how interest rates, financing conditions and Denver office fundamentals evolve through 2027–2029.
Denver office lease expirations concentrated in 2027–2029 amid CMBS loan maturities
Denver Data Bite September 2026
September 22, 2026