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Denver’s Commercial Real Estate Boosted by Marijuana Laws

The legalization of marijuana in Denver has had a positive impact on the local economy, according to reports by CNN which tout that the process has resulted in a massive absorption of commercial space. Despite conflicting opinions on the law, one thing remained clear–the implementation needed to be done in the right way. On an estimate, there has been 3 million square feet of space purchased and another 2 million leased, approximately, much of which is warehouse space.

The Denver commercial movers have found that the current vacancy rate is about 5 percent, making Denver an extremely tight market for commercial development and space. Local professionals are confused and wonder in regards to how quickly the market has taken off since the announcement that Denver will open the recreational use sector on January 1, 2014.

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