X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DENVER-The metro area’s industrial market continues to soften into 2002, with the direct vacancy up slightly to 7.7% from 7.1% at the end of 2001, shows a report by Denver-based Fuller and Co. However, when the nearly 1.8 million sf of sublease space is thrown into the equation, the vacancy rate rises to 8.65%, according to Fuller and Co. industrial veterans Jeff Roemer and R.C. Myles.

The vacancy rate is the highest in about a decade, Myles says.

Multiple large blocks of space have recently come on the market, including a significant amount of subleased space along the Northeast submarket, the largest industrial submarket, they note. Also, year-to-date negative absorption is about 800,00 sf, a reflection of downsizing by most industry sectors.

Developers, however are responding to the market by only breaking ground on 564,000 sf of speculative space since January, a relatively small amount compared to previous years, they note.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

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

  • Free unlimited access to GlobeSt.com'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 ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.