El Paso Industrial Vacancies Back to Prerecession LevelsEl Paso Industrial Vacancies Back to Prerecession Levelshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=103752015-02-03T15:44:00Z2015-02-03T00:00:00Z

The area's industrial space vacancy rate dropped to 12.5 percent at the end of 2014, well below the 14.4 percent vacancy rate a year ago, and the lowest since 2007, when the year-end rate was 12.8 percent, CBRE data show.

"More than half the (El Paso area) transactions were related to Juárez in one fashion or another, either with direct leasing of warehouse space (by Juárez manufacturers), or a logistics company leasing space" to serve clients in Mexico, said Christian Perez Giese, director of CBRE's local office.

Almost 2.6 million sf of industrial space were leased last year in El Paso. However, just under 1.8 million sf were vacated, resulting in a net space absorption of almost 800,000 sf, CBRE reported.

Giese said the city's vacancy rate would be much lower if it weren't for eight large vacant buildings, each with more than 200,000 sf of space. Those buildings account for almost 30 percent of El Paso's available industrial space.

El Paso
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