CBRE has released the Q4 2017 El Paso Industrial MarketView, which is available for download at cbre.com/research. Below is a summary of key Q4 highlights.
The local market saw positive net absorption during Q4 2017 and total annual 2017 net absorption was 338,000 sq. ft. higher than 2016.
The vacancy rate remained flat quarter-over-quarter but decreased by 130 basis points year-over-year.
Asking rents fell slightly due to Class B activity. The market average decreased by $0.05 per sq. ft. compared to Q3 2017 while Class A rents increased by $0.05 per sq. ft.
Two new build-to-suit (BTS) projects, totaling 332,000 sq. ft., broke ground in Q4 2017. Total BTS space under construction was almost 500,000 sq. ft. at the end of 2017.
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