2019 Q4 Industrial Report
What’s beginning to sound like a broken record, the Denver industrial market just completed another banner year. Fueled by a strong local economy, a surging e-commerce market, and an unprecedented level of investment liquidity, tenants and investors alike determined that Denver is the place to be. Over the past decade, the overall vacancy rate in the metro area has decreased from 9.0% to 5.2% while at the same time, delivering 32 million square feet of new product. Lease rates surged 63% as demand outpaced supply and the average price-per-square foot sales price increased by 145%, and now exceeds $123/SF.
2019 Q4 Office Report
Although we put a cap on another year and turned the page to a new decade, the Denver office market appears poised to continue to flourish in 2020 as the market showed little signs of slowing down in 2019. While over 1.5 million square feet of new product was delivered to the market, over 2 million square feet was absorbed, dropping the overall vacancy rate 50 basis points to 10.7% in
2019 Q4 Retail Report
Colorado and in particular the Metro Denver area, continues to be a magnet for Millennials, Baby Boomers and Bay Area tech firms. Net migration and job growth, the two primary drivers for economic prosperity, outpaced the nation for the tenth consecutive year, and fueled Denver’s robust growth.