Denver Retail Figures Q1 2025

‒      The Denver retail market closed Q1 2025 with an availability rate of 4.9%. This represents a slight 10 basis point increase quarter-over-quarter but a 10 basis point decrease from the rate in Q1 2024.

‒      Total net absorption in Q1 2025 was negative 255,000 sq. ft., a considerable decline compared to the negative 44,000 sq. ft. of net absorption in Q4 2024. Net absorption was also down substantially year-over-year from the positive 161,000 sq. ft. in Q1 2024, as new completions have been on a steep decline in recent quarters.

‒      A total of 18,000 sq. ft. delivered in Q1 2025, bringing the rolling four-quarter new completions total to 556,000 sq. ft.

‒      The overall average net asking rent for retail space in Denver ended Q1 2025 at $21.65 per sq. ft., which was up 5.7% from Q4 2024 and up 5.2% from a year earlier. This marks the highest average asking rent in the past five years.

‒      Retail investment sales in Q1 2025 amounted to $210.5 million in total volume, which exceeded the $166.4 million of sales volume seen in Q4 2024.