Denver’s industrial vacancy rate has climbed to 8.9% — the highest level in over a decade — driven by a post-pandemic construction surge and normalized e-commerce demand. This analysis breaks down vacancy by submarket, identifies where softness is concentrated (DIA big-box) versus where the market remains tight (small bay, Central Denver), and outlines what the data means for tenants negotiating leases and investors evaluating acquisitions in 2026.

Denver industrial cap rates have stabilized in 2026 following expansion of 75–150 basis points from 2021–2022 lows, with quality assets trading at 5.50–6.50% and secondary product at 7.00–8.00% or wider. This page breaks down current cap rate benchmarks by Denver submarket, building type, tenant credit profile, and risk factor. SVN Denver Commercial provides investors with actionable guidance on pricing and return expectations for Denver industrial acquisitions.