Denver Industrial Market Report Q2 2020
As Colorado slowly reopens its economy, all eyes will be on the reclamation of jobs this quarter to determine the shape of the recovery. The recent national May employment data surprised to the upside, and could bode well for the Denver, which outperformed the national benchmark in April.
Coronavirus shutdowns have had less of a negative impact on the industrial sector than in the retail or office segments. Many industrial tenants conduct operations that are considered essential and are more likely to stay open amid widespread shutdowns. E-commerce and 3PL tenants have seen an uptick in activity consumers order from home during the pandemic. For example, Amazon leased 700,000 SF in Aurora in mid-March as part of its plan to hire an additional 175,000 workers across the U.S.
Coronavirus shutdowns have had less of a negative impact on the industrial sector than in the retail or office segments. Many industrial tenants conduct operations that are considered essential and are more likely to stay open amid widespread shutdowns. E-commerce and 3PL tenants have seen an uptick in activity consumers order from home during the pandemic. For example, Amazon leased 700,000 SF in Aurora in mid-March as part of its plan to hire an additional 175,000 workers across the U.S.