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Industrial Sector Shines Despite Vacancy Jump

DENVER-Putting a jump from 4.8% to 6.3% in the industrial vacancy rate into perspective, Cushman & Wakefield broker Rick Hubina notes the rate is still healthy, and half the figure for office properties.

By John Rebchook | Updated on December 27, 2001

DENVER-Although Denver area’s industrial vacancy rate soared 31% since the end of 2000, it remains at a healthy 6.3%, says Rick Hubina, a top industrial broker at Cushman & Wakefield. He negotiated transactions of more than 2 million sf, in excess of $125 million from 1998 to 2000.

“The industrial part of our industry is often forgotten, misunderstood, neglected, an outcast,” Hubina tells GlobeSt.com. “But the ‘outcast’ is alive and very healthy and going ver well in 2001. It is time for this outcast to take center stage.”

The industrial market has a vacancy rate less than half of the office market, he notes. The industrial market in the metro area covers 168 million sf, the equivalent of six square miles, he says.

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