The report notes that while Denver is statistically over-supplied with retail, the Denver area typically outperforms the rest of the country.
Still, retail vacancies were up by more than one percentage point to 7% last year. But that ''compares favorably to other metro areas around the country.'' Vacancy rates range from 3.3% in Boulder and 4.1% around the Park Meadows Mall along the southeast corridor, to 12% in central Denver.
Retail lease rates grew significantly from 1997 to 2000, but they've been flat during the past two years.
''Average (net) rental rates ranges are between $15 per sf and $16 per sf, with little change anticipated in 2002,'' the report notes.
Fuller adds Denver won't be immune to national trends.
''It is generally agreed that some retailers are likely to fail due to the intense competition among stores who are selling virtually identical products,'' Fuller and Co. says. ''''The Denver market should see some fallout during the first half of 2002, creating opportunities for other retailers to either enter the Denver market or expand their current market share.''
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