5 Fast Facts Q2 Denver Industrial
CUSHMAN & WAKEFIELD RESEARCH | Q2 2022
Denver, Colorado Industrial Market FIVE FAST FACTS
DESPITE RISING CONCERNS ABOUT THE ECONOMY, INDUSTRIAL LEASING ACTIVITY NEARLY DOUBLES IN Q2 2022. SCROLL TO SEE THE REST OF THE STORY
CUSHMAN & WAKEFIELD RESEARCH | Q2 2022
DENVER INDUSTRIAL FAST FACT
1
CONSTRUCTION PIPELINE BALLOONS TO 10.6 MILLION SQUARE FEET. With many deliveries getting pushed back due to construction delays and 2.4 msf in new construction breaking
ground, the industrial pipeline has swelled to a whopping 10.6 msf.
CUSHMAN & WAKEFIELD RESEARCH | Q2 2022
DENVER INDUSTRIAL FAST FACT
2
NET ABSORPTION REMAINS POSITIVE DESPITE LARGE COSTCO MOVE-OUT. An otherwise positive quarter for absorption that would have surpassed
Q1’s totals was counteracted by a large 1.3 msf vacancy. Many occupancies set for Q2 were pushed back, so look for strong absorption going forward.
CUSHMAN & WAKEFIELD RESEARCH | Q2 2022
DENVER INDUSTRIAL FAST FACT
3
ASKING RATES CONTINUE TO RISE. For the fifth consecutive quarter, both overall and direct asking rates increased, fueled by robust market growth
in which abundant demand continually outpaced supply.
CUSHMAN & WAKEFIELD RESEARCH | Q2 2022
DENVER INDUSTRIAL FAST FACT
4
LEASING ACTIVITY SOARS TO NEARLY DOUBLE Q1 2022’S LEVEL. After a slow beginning to the year, Q2 picked up the slack of the preceding
quarter by recording 3.8 msf in new leasing activity to reach 6.2 msf year-to-date.
CUSHMAN & WAKEFIELD RESEARCH | Q2 2022
DENVER INDUSTRIAL FAST FACT
5
8-PROPERTY PORTFOLIO SALE TOPS THE CHARTS OF A BUSY QUARTER FOR SALES. Multiple banner sales contributed to the robust sum of $532m in aggregate sales volume for second quarter
2022, which more than doubled the total of Q1 2022.
FOR MORE INFORMATION, PLEASE CONTACT
ALEC RHODES , sior +1 303 312 4282 alec.rhodes@cushwake.com
TYLER SMITH , ccim , sior +1 303 312 4296 t.smith@cushwake.com
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TABATHA WALDRON +1 303 292 6154 tabatha.waldron@cushwake.com
1401 Lawrence Street, Suite 1100 | Denver, Colorado 80202 | T +1 303 292 3700 | F +1 303 534 8270 | cushmanwakefield.com
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