Denver Retail Figures Q4 2024

‒      The Denver retail market closed Q4 2024 with an availability rate of 4.8%. This represents a slight 10 basis point increase quarter-over-quarter but a 20 basis point decrease from the rate in Q4 2023.

‒      The total net retail sq. ft. absorbed in Q4 2024 was negative 114,000 sq. ft., a considerable decline compared to the 357,000 sq. ft. of positive net absorption in Q3 2024. Retail net absorption in 2024 as a whole was down 18.2% year-over-year, owing to the market's low availability and fewer new completions.

‒      A total of 13,000 sq. ft. delivered in Q4 2024, bring the 2024 annual total to 557,000 sq. ft. of new construction completions.

‒      The overall average net asking rent for retail space in Denver ended Q4 2024 at $20.56, which was up $0.38 from Q3 2024 but down $0.65 from a year earlier.

‒      Total retail investment sales in Q4 2024 amounted to $147.1 million in total volume, which was down from the robust two-year high of $314.9 million seen in Q3 2024.