Q2, 2011 Austin Industrial Market
Data from Industrial Trends Report – Second Quarter 2011 Austin, TX, Grubb & Ellis
- 208,374 square feet of net absorption from Q1 to Q2.
- Four consecutive quarters of demand has equated to a 1.5% reduction in overall vacancy
- Warehouse / Distribution vacancy down to 14.7%
- R&D / Flex vacancy down to 19.9%
- Asking rent has stabilized to an average of $7.03/square feet annual or $.59/square foot a month
- Looking ahead, strong rental growth will continue to be stymied until concessions and elevated vacancies are absorbed.
- Likely to remain a tenant’s market for next 1-2 years
