According to a recent MarketView report from CBRE Group Inc., which was summarized by Dennis Huspeni of the Denver Business Journal, the industrial real estate submarket was the strongest of Denver’s commercial real estate submarkets based on fourth quarter reports. The industrial vacancy rate in the fourth quarter fell from 7.8% in 2011’s fourth quarter to 5.1% in 2012’s fourth quarter for a 2.7% year over year decline in industrial vacancy rates. The industrial market’s rents increased slightly by 4 cents. According to Dough Viseur of CBRE Group Inc., these factors could lead to an increase in speculative industrial real estate construction in Denver in 2013. By contrast, the retail and office submarkets in Denver saw a less significant decrease in vacancy rates with a 0.4% decline in retail vacancy rates and a 0.6% decline in office vacancy rates from 2011’s fourth quarter.
