Submarket Snapshot_4Q2023_Industrial_Interactive

INDUSTRIAL 2Q23 SUBMARKET SNAPSHOT NORTH DENVER 4

NORTH MARKET

2Q 2023 4

1Q 2023 3

2Q 2022 4

Inventory (SF)

8,189,918 76 322

10,145,003 7 7, 29

9,775,681 10 660,579

Under Construction (SF)

949,972 1, 13, 83

1,147,944 221 833

527,140 1,364,669

Direct Vacancy (all Classes)

11.3% 8 8

product types)

9.6% 13.7

7.9%

14.0

Direct Vacancy – Warehouse/Distribution

13.9% 7.8

9.3% 16.8

7.8% 16.2

Direct Vacancy – Flex

3.7% 2 2

2.1% 3.0

3.9% 2 8

Sublease Availability

68,707 83 5

155,943 93, 11

137,417 5 39

Avg. Direct NNN Asking Rate (all product types)

$12.71 1.35

$11.68 9

$14.84 11.2

Avg. Direct NNN Asking Rate – Warehouse/Distribution

$10.65 00

$10.96 1.50

$10.00 11.5

Avg. Direct NNN Asking Rate – Flex

$15.76 2 57

$14.41 1.49

$14.46 3 8

Net Absorption – Current Qtr. (SF)

63,479 4 121

136,015 121 651

188,131 -6,316

Net Absorption – YTD (SF)

375,909 287 855

448,970 52 5 5

224,194 330 92

Leasing Activity – Current Qtr. (SF)

132,211 4 ,632

224,776 32,598

224,194 10 ,3 6

Leasing Activity – YTD (SF)

82,787 568,430

324,146 1,107 982

188,131 1,075, 84

RENTAL RATE VS. VACANCY RATE

LEASING ACTIVITY VS. ABSORPTION LEASING ACTIVITY VS. ABSORPTION

(150,000) (50,000) 50,000 150,000 250,000 350,000 , 2 4 650,00 8

7.0% 8.0% 9.0% 10.0% 11.0% 12.0% .5 10.0% 11.5% 13.0% 14.5%

$8.00 $9.50 $11.00 $12.50 $14.00 $14.00

Direct Gross Rental Rate

Overall Rental Rate (NNN)

Leasing Activity Net Absorption

Direct Vacancy

Overall Vacancy