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Denver Retail Market Softens in Fourth Quarter

DENVER-The latest MarketView Denver Retail report by CB Richard Ellis shows that Denver's retail market posted negative absorption for the first time in two years. The report identifies high-energy prices, rising interest rates and the softening single-family market as the leading culprits.

By John Rebchook | Updated on January 18, 2006

DENVER-The growth trend in the Denver retail market, as expected, slowed slightly in the fourth quarter 2004, shows the latest MarketView Denver Retail report by CB Richard Ellis. The report identifies high-energy prices, rising interest rates and the softening single-family market as the leading culprits.

“Absorption turned slightly negative in the fourth quarter of 2004 for the first time in two years, losing 133,523 sf of occupied space,” the report notes. “This negative absorption pushed the direct vacancy rate up slightly to 6.4%”

The good news is that the year still ended with absorption of almost 900,000 sf, thanks to strength in the first three quarters. Construction activity increased by more than one million sf in the fourth quarter, pushing the under-construction total to an all-time high of six million sf.

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