2018 Q3 Industrial Report
Industrial investment activity has topped more than $1 billion during 2018, marking the highest year-to-date total on record. Boosted by two significant portfolio sales during the first quarter of the year, momentum persisted throughout the second and third quarters, as investor appetite for newly constructed, fully-leased warehouse/distribution assets remain strong despite on-going cap rate compression.
2018 Q3 Office Report
Denver’s office market once again performed well during the past quarter with a decrease in vacancy, a small bump in asking rental rates, and positive absorption of more than 1.1 million square feet. Corporate relocation and expansion into the Denver market continues to create leasing demand and stabilize vacancy, as is evident by VF Corporation’s decision to relocate its global headquarters to Denver from North Carolina.
2018 Q3 Retail Report
Denver’s retail sector bounced back from significant negative absorption during the previous quarter by recording positive absorption of more than 500,000 square feet during the third quarter. A substantial portion of third quarter absorption stemmed from the opening of the 330,000-square-foot Denver Premium Outlets in Thornton. Vacancy is currently at 5.2 percent, and has remained below 5.6 percent since early 2016.