Denver’s office market has experienced ongoing struggles in the first half of 2023, with vacancy rates remaining at near-record highs. The rise in sublease space indicates that vacancy will continue to increase in the future. This suggests that employers are grappling with the decision of returning to the office, as the hybrid work model appears to have become a permanent fixture. Companies are likely to face significant challenges before fully embracing a return to the office, as they come to realize the inefficiencies of hybrid work.
2023 Q1 Office Report
