Vacancy rate for Denver’s retail drops to 5.1% in Q3 2015, down 0.2% from previous quarter. Net positive absorption for the third quarter came in at 340,417 square feet which was slightly lower than second quarter 2015 at 378,552 square feet, and 178,923 square feet less than first quarter 2015 at 519,340 square feet. Fourth quarter 2014 had the highest absorption with 600,248 square feet. A total of 9 buildings were delivered to the market during the third quarter, totaling 121,931 square feet.

The vacancy rate for Denver’s retail market continued to see an overall decrease in the vacancy rate with four consecutive quarters of positive absorption, ending the third quarter 2015 at 5.1%, down from 5.3% in second quarter, and down from 5.4% in first quarter. Vacancy rate for Denver’s retail market for the fourth quarter of 2014 was at 5.5%.

The rental rates for third quarter ended slightly lower from previous quarter at $15.29 per square foot, compared to second quarter at $15.51 per square foot. This represents a 1.4% decrease in rental rates for the current quarter, however still up 0.65% from four quarters ago.

Deliveries during the past four quarters totaled 997,578 square feet of retail space with an additional 1,029,154 square feet still under construction at the end of third quarter 2015.