Cushman & Wakefield office marketbeat: 3Q 2015 El PasoCushman & Wakefield office marketbeat: 3Q 2015 El Pasohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=111682015-11-17T06:00:00Z2015-11-17T17:00:00Z

​​​EL PASO - The El Paso Borderplex economy continued to expand during third quarter 2015, according to Cushman & Wakefield's Third Quarter 2015 Marketbeat.

Employment is still climbing upward boosting the region’s business-cycle index. The region’s unemployment rate has dropped since this time last year and remains low at 5.3 percent.

El Paso’s office market recorded a decline in vacancy and net absorption while rents increased. The overall office vacancy rate measured 6.7 percent as of 3Q 2015, a drop from 7.3 percent reported in 2Q 2015.

The El Paso office market has experienced a maturation. With virtually no new construction in the past half dozen years and the introduction of some exciting iconic office redevelopments in the same timeframe, it is expected that new Class A buildings will soon emerge.

In the CBD alone, the inventory is expected to increase by over 4 percent in the next 18 months.

Medical Office Buildings represent the next major segment of the market and will impact the inventory with Class A space accounting for upwards of 2 percent citywide.
Cushman & Wakefield
El Paso

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