Denver leasing activity surges to a multiyear high

Quarterly leasing activity totaled 2.8 million square feet (msf) in Q3 2026, an increase of 1.1 msf year over year and 54.3% above the market's five-year quarterly average. Large renewals drove the total, suggesting the quarter's volume reflects a temporary surge rather than a lasting shift in demand. The Southeast submarket accounted for 34.7% of overall activity, led by Lockheed Martin Corporation's 190,504-square-foot (sf) new location. Downtown Denver contributed another 23.2% of quarterly volume, led by Alterra Mountain Company's 65,000-sf relocation to the Central Business District (CBD). Year-to-date leasing activity reached 7.0 msf through the third quarter, up from 5.2 msf over the same period in 2025.

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