Daily Camera:
THE NORTHWEST MARKET UPDATE - INDUSTRIAL
Industrial Market – Warehouse and Flex update – First Quarter 2006
In this month’s market update I thought you might be interested in an update on vacancy rates in our northwest market for Industrial Space for the first quarter of 2006. We will categorize industrial spaces into flex space and warehouse space. A flex building is typically 1 to 2 stories in height with a maximum ceiling height of around 12 to 16 feet. These types of buildings generally are utilized as office space, research and development, laboratories, manufacturing, distribution and a variety of other uses. A warehouse building typically has greater ceiling heights and is used mostly for manufacturing, storage and distribution.
Here is a look at the FLEX MARKET as of March 31, 2006:
| |
Total RBA
(rentable building area)
Avail
|
Total Square Feet (SF) |
Vacancy % |
Boulder |
5,846,534 SF
|
920,036 SF
|
15.9% |
Broomfield |
905,443 SF |
385,995 SF |
42.6% |
Longmont |
2,965,656 SF |
545,017 SF |
18.4% |
Data and graphs provided by CoStar Realty Information, Inc. Vacancy rates, rental rates, available square feet and the graphs were compiled by utilizing the Costar Realty Information, Inc. database. The information contained herein is for informational purposes only. Gibbons-White, Inc. or Chris Boston makes no representations or warranties with respect to the accuracy of the data or the information contained herein.
Here is a snapshot of the Boulder, Broomfield and Longmont FLEX MARKET:
Here is a look at the WAREHOUSE MARKET as of March 31, 2006:
| |
Total RBA
(rentable building area)
Avail |
Total Square Feet (SF) |
Vacancy % |
Boulder |
7,515,139 SF |
534,460 SF
|
7.1%
|
Broomfield |
3,248,898 SF |
409,305 SF |
12.6% |
Longmont |
2,761,978 SF |
843,821 SF |
30.6% |
Here is a snapshot of the Boulder, Broomfield and Longmont WAREHOUSE MARKET:
As you can see from the graphs above, little is unchanged from the end of 2005. However you can also see that vacancy rates have been steadily declining from their peak in late 2003 and early 2004. It is anyone’s crystal ball where vacancy rates are headed but landlords and brokers are reporting significant activity in the marketplace.
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