High in-migration and lower unemployment rates have created positive conditions for the Denver retail sector. During Q-1 2017, Denver saw lower vacancy rates than during any quarter of 2016, according to Colliers International. Net absorption during this quarter was positive at 96,054sf with Mercedes-Benz leasing 70,000sf for a new dealership. Average rental rates for retail space increased by $1.06/sf, year-over-year to $16.36/sf with vacancy at 4.9 percent.

Close to 1.2 million square feet of retail space is under construction and another 313,000/sf has already delivered to market as of Q2-2017. This is a nine percent increase compared with the same period in 2016, according to The Denver Post (citing CBRE data).
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Denver – Photo: Ramin Seddiq

Last Updated on July 13, 2017 by Ramin Seddiq