CBRE has released the Q4 2016 McAllen Industrial MarketView, which is available for download at cbre.com/researchgateway. Below is a summary of key Q4 highlights.
The 10,000 sq. ft. of net absorption in Q4 2016 continued the thirteenth quarter positive streak in net demand. This robust activity pushed vacancy down further to a new cycle-low reaching 6.0%.
By the end of Q4 2016, year-to-date net absorption was nearly 1.4 million sq. ft., the largest annual net absorption on record for the current cycle.
Produce out of Mexico continued pushing demand for cold storage warehouse; this industrial segment is essentially at full occupancy.
Total northbound truck crossings saw a July year-to-date increase of 2.6%, up 144,512 compared to the equivalent period in 2015.
The McAllen-Edinburg-Mission employment market showed continued improvement after a slight deceleration at the close of 2015. October 2016 year-over-year employment increased by 2.9% while unemployment decreased by 53 bps.
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