Denver industrial vacancy rate drops to 4.9% in 1Q 2013, down from the previous quarter and down from last year. The average lease rates remained flat at $5.98 per square foot, flat from 4Q 2012 and 1Q 2012. This was the 12^th consecutive quarter of positive absorption with 83,000 square feet leased. Class A warehouse/distribution space continues to have the lowest availability because of the demand.