CBRE‘s Q3 2013 Austin, Texas Industrial Market report shows a continued uptick.
- The 3rd Quarter of 2013 had its lowest vacancy rate in 12 years – coming in at 10.7% (8.2% in 2001).
- 200,000 SF +in positive net absorption in the 3rd quarter.
- Warehouse space outperformed flex space, accounting for 66% of the net absorption – although in the near term it is expected that flex space will see an uptick due to rising office rates.
- North and east submarkets outperformed all others.
- Rental rates are slowly rising across all product types.
- CBRE suggests that tenants renewing their leases should consider extending leases early and renewing for a longer term to try and gain a more competitive rate as the marketplace continues to tighten.
CBRE‘s Q3 2013 Austin, Texas Industrial Market report shows a continued uptick.
