Office Vacancies Approach 40 Percent Downtown As Cherry Creek North Attracts New Development And Commands Premium Rents
While downtown Denver struggles to fill empty office towers, Cherry Creek North is experiencing a building boom. Just a few miles southeast of downtown, developers are planning new office buildings, luxury residences, and retail projects in one of the region’s hottest commercial districts.
The contrast is striking. According to commercial real estate firm CBRE, downtown Denver’s office vacancy rate reached 38.6 percent during the second quarter of 2026. Meanwhile, figures presented by JLL in September placed vacancy in Cherry Creek’s most sought-after office market at just 2.2 percent, with asking rents approaching $94 per square foot. Although the figures reflect different market definitions, they illustrate the dramatic difference between the two areas…