DENVER-The local industrial market remains steady, but slowed from last year’s heady pace, shows a third-quarter report by CB Richard Ellis. A year ago, seven major developers were delivering distribution product in the northeast market, the largest industrial submarket in the area.

Today, there are five: Catellus, Majestic, ProLogis, Lowe Enterprises and Gateway Park, according to the report. Majestic and ProLogis continue to deliver high-cube space, while Catellus and Gateway are beginning to try to capture the ”flex” market as well.

Gateway, for example, signed a 28,000-sf lease with Paychex and 16,000-sf with Frontier Airlines in flex projects. Catellus is offering 89,00-sf in its D-5 flex space building.

”The challenges this product is currently facing is largely due to the slowdown in the economy and the unwillingness at this time for incubator companies to transition into new larger class A space,” the report notes.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.