Denver industrial market report

The Denver industrial market remained stable with leases totaling 10.9 msf in 2025. Big-box space led the market throughout the year, accounting for 32% of total leasing activity, as occupiers continued to prioritize large, efficient footprints. Development activity has moderated after several years of heightened construction, bringing the pipeline back in line with historical norms. Roughly 2.7 million square feet is currently under construction, a level softened compared to pre-pandemic conditions and similar to 2016 activity. Commercial real estate stakeholders closely monitored the Federal Reserve’s recent policy shift, which materialized in December 2025 with a 25 bps decrease to the benchmark interest rate. Though the broader implications remain to be seen, the move is expected to influence each sector differently. These combined factors reflect a resilient, well-balanced market that is positioned to remain stable in the months ahead.