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.