2019 Q1 Denver Retail Market Report

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At A Glance

Market Overview

Metro Denver’s retail sector experienced 106,577 square feet of negative absorption for the first quarter of 2019 after experiencing 384,762 square feet of positive absorption during the fourth quarter of 2018. The Southwest submarket recorded the highest negative absorption at over 50,000 square feet. Overall asking rental rates increased approximately 0% year-over-year. Vacancy during the quarter remained the same as the fourth quarter at 4.7%.

Metro Denver’s investment activity in the retail sector totaled approximately $114 million during the first quarter of 2019, as 21 properties transacted. The most significant transaction of the quarter was the purchase of the two property portfolios in the Downtown submarket at $17.8 million by Fillmore Capital Partners. Only 10,200 square feet of retail space was delivered during the quarter which is well over 100,000 square feet less than the previous quarter although there are approximately over 795,000 square feet currently under construction.

 

         Q12019RetailMarketIndications 

Highlighted Trends

  • Retail investment activity during the first quarter of 2019 totaled approximately $114 million, across
    21 sales
  • The Bureau of Labor Statistics reported an unemployment rate of 3.3 percent for Metro Denver during February 2019. The national unemployment rate is 3.7 percent.

 

 

 

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2019 Q1 Denver Retail Market Report

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