2019 Q3 Industrial Report
The winning streak continued during the third quarter as developers delivered over 2.7 million SF of new product to the Denver industrial market. While this pushed vacancy rates up 60 basis points, to 5.3%, the additional supply was welcomed with open arms by tenants as the competition for available space remained high.
2019 Q3 Office Report
In August, recession warning alarms were activated when the economy experienced a sharp decline in long-term interest rates. Pessimists crowed that a recession was all but guaranteed when the yield curve inverted briefly and trade tensions with China reached new highs. Since then however, the Federal Reserve has made multiple rate cuts and it appears that the escalating trade tensions with China have de-escalated moderately, at least for the moment. While it would be foolish to think that a recession is off the table, in all likelihood, it appears that the economy, and consequently the real estate market, will continue to grow, albeit at a diminished pace into 2021.
2019 Q3 Retail Report
Similar to last quarter, Denver’s retail market appeared to be relatively flat as net absorption was less than 20,000 SF shy of finishing the quarter with its head above water. However, like the local economy along the front range, the market continued to grow as leasing activity remained strong.