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Denver industrial market tightens with growth in jobs and marijuana

Submitted by Marijuana News on Mon, 05/18/2015 - 08:00

In this 2014 file photo, master grower Evan Schick steps lightly as he waters the 750 marijuana plants jammed into his facility, which supplies Walking Raven dispensary. (John Leyba, Denver Post file)

Job growth and pot growth are fueling record high lease rates and low vacancies in Denver's industrial real estate market.

"Competition for industrial space in the Denver market is very aggressive," said Dawn McCombs, senior vice president and industrial specialist at the Denver office of brokerage Avison Young. "The lack of quality options for tenants is driving rental rates higher than I have ever seen."

Avison Young's market report released this week shows that first-quarter lease rates averaged $7.47 per square foot, up 10 percent from a year earlier and the highest ever recorded for metro Denver.

Part of the market surge is tied directly to...

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Colorado
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URL: 
http://www.denverpost.com/business/ci_28126434/denver-industrial-market-tightens-growth-jobs-and-marijuana

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