CBRE has released the Q3 2017 McAllen Industrial MarketView, which is available for download at cbre.com/research. Below is a summary of key Q3 highlights.
Following a break in the 14-quarter positive streak in net demand in Q2, the McAllen industrial market returned to positive territory with almost 140,000 sq. ft. of net absorption.
Compared to Q2 2017, the market vacancy rate fell from 5.3% to 3.8%, the lowest vacancy rate seen in the current cycle.
Average asking rates saw a quarterly increase with the delivery of a higher than average priced, vacant speculative project.
Demand for industrial space reached just over 1.65 million sq. ft., slightly higher than the previous cycle high.
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