Home prices in metro Denver may have skyrocketed this decade, but Denver office space remains a bargain compared to other major markets.
COMMERCIALCafé and Yardi Matrix did a study comparing what it cost to purchase 100,000 square feet of Class A office space in the nation’s 15 top central business districts with five or more transactions since 2017.
For Denver, the price tag was $25.4 million, toward the middle of the pack.
Midtown Manhattan was more than three times as expensive at $79 million for that amount of Class A space. The same square footage went for $60.6 million in Washington, D.C., $53.6 million in Seattle and $44.6 million in Los Angeles.
Denver prices are similar to those of Chicago, which came in at $26.7 million, and just ahead of Charlotte, N.C., at $24.4 million.
Minneapolis, Atlanta and Philadelphia were more affordable cities than Denver when it came to office space and Baltimore was the cheapest in the survey at $10.6 million.
For those buying older Class B space in Denver, the average price tag for 100,000 square feet was $16.6 million.
