Quarter 1, 2014 Austin Industrial Market Report by
CBRE for Austin continues the trend of the last few years of negative absorption in the first quarter of the year.
- Negative absorption of 184,344 SF in the first quarter was the weakest since 2010
- Citywide vacancy is now at 11.2%
- Flex space outperformed warehouse product posting 141,000 SF of positive absorption with warehouse at 325,000 SF of negative absorption.
- The 325,000 SF of negative warehouse absorption is almost entirely attributable to Dell’s vacating 200,000 SF of Howard Ln warehouse space.
- Vacancy rates fell to 13.2% for flex space and warehouse vacancy rose to 10%.
- The Far NE submarket was the only one with significant positive absorption with a total of 143,000 SF while the NE submarket had negative absorption of 356,000 SF (primarily the Dell move out).
- Warehouse and flex space had modest rate increases with $.53 and $.79 /SF respectively.
Quarter 1, 2014 Austin Industrial Market Report by CBRE for Austin continues the trend of the last few years of negative absorption in the first quarter of the year.
