Figures | Adaptive Spaces, Creating Resilience, Evolving Workforces, Future Cities

Denver Retail Figures Q4 2022

January 19, 2023

Looking for a PDF of this content?

Download

  • Over 333,000 sq. ft. of net absorption was recorded in Q4 2022, pushing the YTD total to just over 903,000 sq. ft.—a 51% increase from the total recorded in 2021.
  • Direct vacancy declined 50 basis points (bps) year-over-year to 6.3%, while availability dropped 100 bps to 7.0%.
  • The average asking lease rate was largely stable in 2022 after falling less than 1.0% year-over-year to $20.11 per sq. ft. NNN.
  • The construction pipeline dipped below 700,000 sq. ft. as of year end 2022. Eight buildings totaling just over 90,000 sq. ft. delivered in the fourth quarter, pushing annual delivery volume to 407,000 sq. ft.
  • Sales volume totaled $350.2 million in Q4 2022, a 4.3% decrease quarter-over-quarter. Fourth quarter activity pushed YTD sales volume to $1.7 billion, 26.3% greater than 2021’s total volume.