Market Trends
- Vacancy rates have risen by 190 basis points (bps) over the past year to 9.0%, likely due to the addition of 12.4 million square feet (msf) of space. This may indicate a demand slowdown and has contributed to a dip in net absorption
- Despite a market slowdown, rents have risen to $9.56 per square foot(psf), marking an 11.0% increase year over year. The Central submarket boasts the highest rates at $15.17 psf, while the East submarket has the lowest at $7.21 psf.
- Denver's industrial market has maintained positive net absorption for nearly six years, reflecting strong economic growth and effective demand strategies. This resilience continues despite a quarterly dip to 0.9 msf.