Denver's Northeast Market Shows Marginal Decline in Vacancy Rate

DENVER-The 44.7 million-sf Northeast market – the largest industrial market in the Denver metro area – is boasting a third-quarter vacancy rate of 3.9%, down from 4% a year ago, according to a new report by Grubb & Ellis.

In the second quarter, the vacancy rate had stood at 5.82%. Another highlight is that for three straight quarters, the market has absorbed more than one million sf, with the first nine months this year pushing the rate to more than 3.4 million sf. Most of the net absorption has occurred in class B and C space, an older, second-tier space that now has a 2.3% vacancy.