CBRE has released the Q2 2017 Austin Industrial MarketView, which is available for download at cbre.com/researchgateway. Below is a summary of key Q2 highlights.
More than 860,000 sq. ft. of new development delivered this quarter, with the Southeast submarket completing approximately 650,000 sq. ft. between two complexes.
Vacancy ticked up from 7.2% in Q1 2017 to 8.8% in Q2 2017, while the average annual asking rent climbed a whopping $0.20 from last quarter to $10.52 per sq. ft.
The industrial market registered 120,891 sq. ft. of positive net absorption in Q2 2017, with the top-performing submarket being southern Hays County with approximately 49,000 sq. ft. of net absorption.
With the abundance of new deliveries this quarter, the active construction pipeline fell to 567,741 sq. ft. However, developers are still hedging that the industrial market will remain robust, with an additional 420,000 sq. ft. in the preliminary stages of construction.
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