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2026 CRE Outlook in West Denver Submarkets

Lucas Quinn, Associate Broker, joins Digby Commercial Advisors, December 2025
Lucas Quinn, Associate Broker

GOLDEN, CO — January 26, 2026

As we move into 2026, commercial real estate is shifting from volatility to clarity. Pricing has largely reset, capital is re-entering selectively, and deals are getting done where fundamentals support them. In West and Northwest Denver, this is showing up as steadier transaction volume, realistic cap rates, and growing owner-user activity; especially in functional, well-located assets.

Lucas Quinn, Associate Broker, breaks down the West and Northwest Denver Submarkets by Asset Class with supported data provided by CoStar Group. 

Industrial continues to anchor the market. While vacancies temporarily rose in parts of the metro following recent deliveries, construction pipelines have slowed dramatically. In Northwest Denver, industrial sales totaled over $91M in the past year, with pricing stabilizing around the mid-$200s per SF and cap rates in the low-to-mid 7% range. Smaller bay buildings and owner-user acquisitions remain especially competitive as supply tightens.
 
The office sector is no longer defined by decline, it’s defined by selectivity. Northwest and Southwest Denver office submarkets are showing signs of stabilization, with vacancy rates well below the local average and limited new construction. Leasing activity is concentrated in right-sized, well-located buildings, while capital markets activity is opening repositioning and value-add opportunities for buyers willing to lean into fundamentals rather than presentation.
 
Retail remains one of the most resilient asset classes. In Northwest Denver, vacancy hovers near 5%, and asking rents grew approximately 2.7% year over year despite negative absorption tied to a handful of large move-outs. Limited new supply and strong neighborhood demand continue to support well-located retail centers.
 
Note: Metrics cited reflect a combination of trailing 12-month market data through year-end 2025 and CoStar Group forecasts for 2026. 
*Market data cited herein is sourced from CoStar Group and is believed to be reliable but not guaranteed.

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