2019 Q1 Denver Industrial Market Report

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At A Glance

Market Overview

Metro Denver’s industrial sector posted positive numbers during the first quarter of 2019. The net absorption remained positive at over 435,000 square feet despite a significant decrease from the previous quarter. The beginning of 2019 also continued the upward trend of asking rental rates. Investment activity was led by the purchasing of the 19-property portfolio by Berkeley Partners for $247,500,000 from Etkin Johnson Real Estate Partners taking up just shy of 2 million square feet. Overall, investment activity in Metro Denver accumulated to over $315 million during the first quarter which results as a slight increase from the fourth quarter and a 27% decrease year-over-year. The average price per square foot concluded at $184 also resulting in an increase from the prior quarter. As 2019 continues, Denver should expect increased deliveries as well as progressive construction.

 

                    Q1 2019 Industrial Market Indicators 

 Highlighted Trends

  • Metro Denver's deliveries totaled over 1.2 million square feet during the quarter
  • 8 out of 15 submarkets recorded positive net absorption
  • As of February 2019, the unemployment rate in Metro Denver sits at 3.3%. The national unemployment rate is 3.7%
  • Investment activity in the first quarter totaled over $315 million
  • Asking rental rates surpassed the $9.00/SF mark for the first time n history

 

   

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2019 Q1 Denver Industrial Market Report

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