Denver office leasing demand by top industries in 2023
The dynamics of office leasing have undergone a significant transformation due to the widespread adoption of the hybrid work model, giving rise to diverse requirements for physical office spaces. This necessitates a reevaluation of traditional leasing practices and emphasizes the importance of flexibility and adaptability in meeting the evolving needs of the modern workforce.
The biotech, life sciences, pharma, and healthcare sector took the forefront in leasing activity, constituting 17% of the leasing volume in 2023. Notable tenants in this category, such as Corden Pharma and Kaiser Permanente, collectively occupied a total of 399,624 square feet.
Despite a year-over-year decrease in leasing activity, tech and engineering, architecture, and construction occupants continue to stand out as the leading sectors, collectively engaging in transactions exceeding 746,962 square feet of space.
