Surveying the Suburban Office Market

A new report by CBRE finds reasons to be skeptical of tales of the downfall of the suburban office market. Denver provides a compelling case study.

1 minute read

June 20, 2017, 12:00 PM PDT

By James Brasuell @CasualBrasuell


Denver Suburb

Highway traffic, office uses, and signs of more construction at the Arapahoe Village Center light rail station outside of Denver. | Arina P Habich / Shutterstock

Lindsay Gilbert, vice president of advisory and transaction services for CBRE in Denver, takes to the pages of the Colorado Real Estate Journal to share the findings of a new report on the strength of the suburban office market.

According to Gilbert's explanation of the "North America Suburban Office Trends Spring 2017" report, conspicuous projects in downtown areas and "popular lore" about the millennial preference for urban environments is exaggerating a narrative about the "'downfall of the suburban office sector.'

However, the "U.S. suburban vacancy rate is near a prerecession low," writes Gilbert. "The market has been tightening since the end of the Great Recession, benefiting from improving demand and low overall levels of new supply compared with previous cycles."

The article also focuses specifically on the Denver market, which Gilbert describes as unique because it is adding a great deal of suburban office supply. In fact, Denver is the third most active market for suburban office construction, trailing only Seattle and Northern Virginia. According to Gilbert, rent growth is driving suburban office construction in Denver and other markets around the country. In Denver's case, writes Gilbert, in-migration and transit system expansion into the suburbs are also benefitting suburban Denver.

Tuesday, June 20, 2017 in Colorado Real Estate Journal

View form second story inside Southdale Mall in Edina, Minnesota with escalators and model cars parked on downstairs floor.

The Mall Is Dead — Long Live the Mall

The American shopping mall may be closer to its original vision than ever.

March 21, 2024 - Governing

View of Austin, Texas skyline with river in foreground during morning golden hour.

The Paradox of American Housing

How the tension between housing as an asset and as an essential good keeps the supply inadequate and costs high.

March 26, 2024 - The Atlantic

Houston, Texas skyline.

Report: Las Vegas, Houston Top List of Least Affordable Cities

The report assesses the availability of affordable rental units for low-income households.

March 22, 2024 - Urban Edge

Aerial view of Anchorage, Alaska downtown with mountains in background at golden hour.

Anchorage Leaders Debate Zoning Reform Plan

Last year, the city produced the fewest new housing units in a decade.

March 28 - Anchorage Daily News

Young man in wheelchair crossing zebra crosswalk.

How to Protect Pedestrians With Disabilities

Public agencies don’t track traffic deaths and injuries involving disabled people, leaving a gap in data to guide safety interventions.

March 28 - Governing

Aerial view of mountain town of Steamboat Springs, Colorado in the winter with snow at dusk.

Colorado Town Fills Workforce Housing Need With ‘Dorm-Style’ Housing

Median rent in Steamboat Springs is $4,000 per month.

March 28 - CBS News

News from HUD User

HUD's Office of Policy Development and Research

Call for Speakers

Mpact Transit + Community

New Updates on PD&R Edge

HUD's Office of Policy Development and Research

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.

Planning for Universal Design

Learn the tools for implementing Universal Design in planning regulations.