Located in the southern heart of Downtown, Denver’s LoDo area is the city’s oldest neighborhood. With centuries of history, LoDo boasts some of the city’s most famous restaurants, historical markers, art galleries, and boutiques. And despite years of change, LoDo remains a popular choice for businesses and residents alike who are searching to be at the center of Denver’s vibrant cultural scene.
When the Colorado Rockies redeveloped the west parking lot next to Coors Field, LoDo witnessed an unprecedented period of adaptation and change. In the past couple of years alone, LoDo responded to the area’s growth with fresh lofts, new business space, and mass redevelopment. As Denver’s oldest, most adaptable neighborhood, LoDo is a perfect place for companies seeking long-term stability that doesn’t compromise future flexibility, or early-stage businesses seeking flexible office space for rent.
LoDo Office Space | Lease Data & Trends
|Office Space for Rent||Class A||Class B||Vacancy|
|Denver CBD Total||$42/sf||$33/sf||16%|
LoDo comprises one-third of Dever’s Central Business District, alongside Midtown, Capitol Hill, and Uptown/East Side. As part of Downtown core, commercial rates in LoDo are well above the Greater Denver area’s average cost for office space. But within Denver’s Central Business District, LoDo is home to the city’s most expensive asking prices for commercial office space. For Class A properties in LoDo, office spaces rent for $48 per square foot. Comparatively, rent prices for Class A space in Denver’s broader Downtown area hover closer to $42 per square foot.
Overall, office space in LoDo rents for around $45 per square foot. The high cost of rent for office space in LoDo is partially due to supply and demand: LoDo boasts the lowest direct vacancy rate in comparison to other Denver neighborhood at 9%. With fewer properties available in this popular area, the cost of rent soars for prospective renters. Fortunately, there are over half a million square feet of commercial office space under construction in LoDo, offering a few proactive companies the upcoming opportunity to lease new office space in LoDo.
Regardless of whether you opt for ready-to-go office space, or you lease a property under development, choosing a property in LoDo promises access to a thriving business scene.
What Our Brokers Say About LoDo Office Space for Lease
What kind of companies are investing in LoDo’s commercial real estate? Companies in this part of town run the gamut, from startups to sports giants. Within LoDo’s borders, from Lawrence Street to the Platte River and from 20th Street to Cherry Creek, major commercial tenants in the area include: software company FullContact, employment agency Creative Circle, national co-working space Spaces, and the Colorado Rockies’ Coors Field.
The construction market in LoDo is poised to continue on a trend of rapid growth and commercialization. While the Colorado Rockies’ move into the LoDo area has already initiated a rise in commercial businesses in the area, the sports giant’s move into the area will perpetuate LoDo’s opportunity for development. On the edge of LoDo, the Coors Field west parking lot sits vacant, but not for long as the Colorado Rockies intend to transform these three acres in LoDo into a city block of office, retail, and hospitality space.
But the neighborhood isn’t just for sports fans. There’s also a density of tech startups and software start-ups in LoDo. Current software companies in LoDo include: AutoDesk, Cisco, Equus, Apto, Inc. GoSpotCheck, and Big Ladder Software.
Getting Around LoDo Denver
Employees in LoDo enjoy access to a range of transportation options. Yet most employees who commute to LoDo travel through Union Station – a historic Denver facility that underwent a major transformation in the past decade. Union Station houses a train shed, a light rail station, and a bus facility, making it a daily stop for most commuters in the area.
In addition to LoDo’s frequented Union Station, commuters in this part of the city enjoy premier access to Denver’s well-groomed bike paths and the city’s 85-mile trail network. Outside of winter months, many employees choose to commute by bike along the integrated path using one of Denver’s B-cycle’s stations.
Get to Know the LoDo Neighborhood
In the late 1800s, LoDo’s neighbor, Central Platte Valley, became part of a nationwide railway expansion effort. As a result, LoDo opened Union Station, the gateway to Denver. LoDo’s popularity at the turn of the century waned, and the city turned into a seedy, less-frequented zone in the mid-1900s. Yet the end of the twentieth century marked a new phase for LoDo’s future: the area earned the status of a historic landmark neighborhood, “The Lower Downtown Historic District.”
In the decades to follow, economic vitality soared in LoDo. Chevron Manufacturing buildings turned into hip creative spaces; dilapidated land turned into sports arenas. Even to this day, activity at Coors Field and the Pepsi Center draws the majority of crowds and activity.
In addition to the strong sports scene, LoDo is well known for its bustling food, drink, and shopping options. At its core, LoDo is a well-rounded, mixed-use neighborhood that spans 25 square blocks. Within its boundaries, you’ll find over 100 eateries, dozens of historic office buildings, up-and-coming art galleries, and mixed-use loft units.
Locals and visitors alike spend time in Larimer Square, a popular area for elevated eats and sophisticated drinks – although you’ll still find a range of ballpark dives and underground speakeasies in the area. Larimer Square is known as Denver’s best shopping area, so if you’re in need of an afternoon of retail therapy along a row of white-lit shops, make sure to visit this spot of LoDo.
As an area with so many social options, it’s easy to see why people are comfortable establishing lives and businesses in LoDo.