Denver Industrial Development to See a 53% Boost in 2020
Commercial Café’s latest study compares the top 20 industrial markets in the U.S. Using data from Yardi Matrix, the study looks at how much industrial space we can expect to be added in 2020. Overall, U.S. industrial property completions are set to add 186 million square feet across 627 properties. This is up 29 percent over last year when the nation added 144 million square feet across 441 properties.
As of right now, Denver is expected to be one of the top 20 industrial markets in 2020, with 4.6 million square feet of new space scheduled for delivery this year, right behind Philadelphia and ahead of Las Vegas. This represents an increase of 53% over last year when the market added 2.9 million square feet of industrial space.
The largest project to be completed this year in the Denver Metro is the 598,500-square-foot Building 1 of the Stafford Logistics Center in Aurora. The property is being developed by NorthPoint Development and features a clear height of 36 feet and is located right off I-70. Brennan Investment Group’s Colorado Logistics Park in Brighton is set to deliver buildings A, B, and D in July. These three buildings together contain nearly 560,000 square feet of class A industrial space and have a prime location right off I-85. Together, the top three completions make up 1.65 million square feet of Denver’s 4.6 million square feet of deliveries.
Read the full study at https://www.commercialcafe.com/blog/us-industrial-pipeline-2020/