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Samsonite Demolition, New Construction Impact Industrial Market

DENVER-The Denver-area vacancy rate increases in the third quarter, but its Trammell Crow says it's not a fundamental shift. The demolition of 512,000-sf Samsonite assembly plant and the delivery of 670,000 sf in the market prove significant during the period.

By John Rebchook | Updated on December 06, 2005

(To read more on the industrial market, click here.)

DENVER-Trammell Crow Co., in its Northeast Industrial Market report for the third quarter, says two significant events impacted the market. The first is the demolition of the 512,000-sf Samsonite assembly plant along Interstate 70, between Stapleton and the Denver International Airport. The second seminal event is the delivery of 670,000 sf of new construction.

The razing of the assembly plant removed 500,000 sf from the base and resulted in 250,000 sf of negative net absorption in the quarter, Trammell Crow notes. And the 670,000 sf of new buildings in the third quarter led to a 0.75% vacancy rate increase to end the quarter at 11.41%. A year ago, it was at 10.76%. For comparison, at the end of 2002 the overall vacancy rate stood at 9.38%.

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