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Colorado Springs Industrial Figures H2 2022

February 8, 2023

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  • Over 485,000 sq. ft. of positive net absorption was recorded in the second half of the year, bringing year-to-date net absorption to 841,000 sq. ft.
  • Nearly 240,000 sq. ft. of industrial space was under construction as of year-end 2022, while the market saw over 340,000 sq. ft. of completion volume in the second half of the year.
  • The average direct asking lease rate showed a decrease of 9.4% year-over-year to $9.73 per sq. ft. NNN.
  • Direct vacancy dropped 120 basis points (bps) year-over-year to 3.2%, while availability also fell 120 bps to 4.1%, both indicating sustained industrial demand in Colorado Springs.
  • Sales volume for H2 2022 exceeded $85.5 million and pushed 2022 total sales volume to over $224 million, a 25.2% increase over 2021’s total volume.