The overall Denver industrial vacancy rate ended the third quarter at 4.5%, remaining exactly the same as the previous quarter. More specifically, both industrial-flex projects and warehouse projects experienced a slight increase in vacancy over the last quarter. Vacant sublease space increased dramatically, to 987,082 square feet from 618,165 square feet the previous quarter. Currently there are 4,559,050 square feet of industrial buildings under construction, having had a total of 8 buildings delivered to the market totaling 616,142 square feet during Q3 2016.
The Denver retail market did not experience much change in the third quarter compared to the previous quarter. There was positive absorption of 414,201 square feet from a positive 528,879 square feet in the second quarter 2016. Vacancy rates remained steady at 4.7% quarter-over-quarter.
Calgary’s industrial vacancy rate has slid again slightly to 7.80% as of the end of the third quarter 2016. Vacancy has steadily increased through 2015 and 2016, from 4.30% at the end of 2014. This marks the highest recorded vacancy rate for Calgary’s industrial market in the past 15+ years.
Welcome to Bilfinger GVA’s central London office analysis; our detailed view of the market in Q3 2016.
The third trimester of 2016 closed with a total office inventory of 5.7 million sq. m in offices of class A and A+. This means an increase of 563 thousand Sq. M in comparison with last year’s third trimester.