It’s no secret that Denver’s industrial market is booming. According to CBRE’s latest research report, Denver Industrial MarketView Q2 2021, metro Denver saw its 45th consecutive quarter of positive net absorption and development volume continued to reach new heights.
Highlights:
- Over 1.2 million sq. ft. of positive net absorption was recorded in Q2 2021, up 45.1% quarter-over-quarter but 5.3% less than Q2 2020’s volume.
- Year-to-date net absorption totaled nearly 2.1 million sq. ft., up 11.3% year-over-year.
- The average achieved lease rate for Q2 2021 increased $1.06 quarter-over-quarter to $8.39 per sq. ft. NNN.
- Total availability remained stable at 9.2% while direct vacancy fell to 6.9% from last quarter.
- Construction activity continued its record-setting push with 10.0 million sq. ft. underway. Five buildings totaling 703,400 sq. ft. delivered in Q2 2021.
- Overall sale volume reached $644.6 million in Q2 2021, nearly double the volume recorded in Q2 2020.
To download the report click here.
