Denver: Industrial Vacancy Rate at Record-Low Due in Part to Cannabis Legalization

The industrial vacancy denverrate in the Denver metro area is at a record-low, thanks in part to the recent legalization of cannabis.

According to a story published by the Denver Business Journal; “The pot industry is partially to blame for the Denver metro area’s record-low industrial vacancy rate, real estate experts say….. as far as Class B industrial space around 50,000 square feet are concerned, marijuana companies are the go-to tenants.”

In Colorado, recreational cannabis sales began on January 1st, 2014, introducing a new industry to the state. Recent figures released by the Department of Revenue shows that there was roughly $700 million worth of legal cannabis products sold in Colorado in 2014, resulting in $76 million in taxes garnered for the state.

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