CBRE has released the Q1 2017 Austin Industrial MarketView, which is available for download at cbre.com/researchgateway. Below is a summary of key Q1 2017 highlights.
Market fundamentals held strong in Q1 2017 - vacancy held steady at 7.2% and average asking rents climbed to $10.32 per sq. ft. per year, up $0.12 per sq. ft. from Q4 2016.
Construction and deliveries kicked off 2017 well - developers delivered more than 550,000 sq. ft. in Q1 2017; 272,500 sq. ft. delivered in the Southeast submarket alone. Another 1.1 million sq. ft. is currently underway as developers focus on continued growth in the industrial using sector.
Calm optimism leads to positive net absorption - the industrial market absorbed 144,672 sq. ft. in Q1 2017.
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