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Local Industrial Market Remains Strong

DENVER-With the sector's vacancy rate down a point to 4% and average rental rates up to $6.47 per sf, the local industrial market remains strong despite an absence of construction activity by local major developers.

By John Rebchook | Updated on July 13, 2001

DENVER-The metro area’s industrial market remains strong, according to Paul Kahn, an industrial broker at Cushman & Wakefield. The average industrial vacancy rate was 4% at the end of the second quarter, while it was about 5% a year earlier.

The average rental rate of all products was $6.47 per sf, he says, while it was just about $6 in 2000.

Construction is declining to its slowest pace since 1997, Kahn’s statistics show. There is only 600,000 sf of new construction through the second quarter, while each year from 1998 to 2000 showed about 1.8 million sf being added each year.

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