The latest National Industrial Report from CommercialCafe shows that Denver’s industrial market continues to demonstrate steady performance amid shifting Western U.S. dynamics, with solid rent levels, active transaction volume, and one of the region’s most robust development pipelines.
Key findings for Denver:
- Average for in-place industrial rents: At $9.61, Denver places 8th among the top Western industrial in our study.
- Leases signed within the past 12 months: Averaged $9.42 per square foot, ranking 8th among the Western markets on our list.
- Under construction pipeline: Development activity remains active, with 8.28 million square feet underway— the 3rd-largest pipeline in the West.
- YTD price per square foot: Industrial assets in Denver are trading at an average of $100.20 per square foot, ranking 8th across the region.
- YTD sales volume: Transaction activity has reached $204 million year-to-date, placing Denver 5th among Western markets.
Key national highlights from the report:
• The national average for in-place industrial rents reached $8.99 per square foot, reflecting a 5.5% increase year-over-year.
• Leases signed within the past 12 months averaged $9.97 per square foot, representing a 97-cent premium over in-place rents.
• The national industrial vacancy rate stood at 9.2% in February, marking a 100-basis-point increase year-over-year.
• The industrial construction pipeline totaled 379.4 million square feet, representing 1.8% of total stock.
• New project starts reached 305.5 million square feet in 2025, compared to 304.6 million square feet in 2024.
• Industrial transactions totaled $8.9 billion year-to-date, with properties trading at an average of $144 per square foot.
For additional insights on rents, vacancies, and construction across top industrial markets, read the full report here.
