CBRE has released the Q1 2017 El Paso Industrial MarketView, which is available for download at cbre.com/researchgateway. Below is a summary of key Q1 2017 highlights.
Transportation, warehousing and third-party logistics companies accounted for half of overall transaction activity in Q1 2017; 70% of Q1 2017 deals were renewals.
Tightening vacancy continues to put upward pressure on asking rental rates, which have increased by 4.1% year-over-year.
Asking rent increases were seen across submarkets and across classes. The market average increased by $0.02 per sq. ft. since Q4 2016 and $0.11 per sq. ft. year-over-year.
Four build-to-suit projects were under construction while speculative developments have been non-existent in the current cycle.
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