Industrial industries continue to see major gains in Denver

The Denver industrial market has demonstrated resilience in the face of challenging market conditions with robust leasing activity primarily driven by the smaller to mid-sized product segment. In the year 2023, industrial spaces below 50,000 square feet dominated leasing activity, reaching an impressive total volume of 6.7 million square feet.
Within the engineering, architecture, construction, and building materials sector, there was a notable surge of 47.3%, resulting in a total of 1.1 million square feet leased compared to the previous year. Key tenants, such as PrimeSource Building Products, Office Elements, and Ferguson Enterprises, collectively contributed 447,601 square feet to this increase.
The Retail sector followed closely behind, experiencing a significant uptick of 59.2% and reaching a total of 1.1 million square feet leased compared to the prior year. Noteworthy contributors to this growth include Discount Tire and Marcone Group, leasing 338,548 square feet and 155,850 square feet, respectively.

March 13, 2024