Molly Armbrister, reporter for the Denver Business Journal, explained that the retail market surpassed both the industrial and office markets from April through June.
Armbrister wrote about the rising rent for retail space in metro Denver that rose to $17.37/sf. According to CBRE Group Inc., this is “…the highest lease rate on record in more than a decade.”
Why the climbing rates?
- Drop in vacancy rates
- Economic improvement
- High levels of migration