Asking rates for Industrial property rent are at a historical high according to CBRE’s first quarter Austin market report. $10.79 per square foot per year is the new high water mark driven mostly by Class A Flex space. In addition:
- Absorption totaled 470,000 square feet
- Vacancy increased to 10.6% (primarily due to the delivery of 1.3 million square feet of new lease space
- 13 additional projects are under construction with more than 1.1 million square feet in Southeast Austin and Hays County
- The far Northeast submarket had the largest absorption of lease space at 141,113 square feet
CBRE Austin Industrial, Q1 2019
