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CBRE: McAllen industrial sees cold storage heating up 1Q 2016CBRE: McAllen industrial sees cold storage heating up 1Q 2016https://www.recenter.tamu.edu/news/newstalk-texas/?Item=128092016-04-19T05:00:00Z2016-04-19T19:20:00Z

​​​​McALLEN - Three constructions sites started moving dirt in first quarter 2016 with a mix of dry warehouse and cold storage use making McAllen’s industrial demand string enough to boost net absorption past trailing annual levels.

The first quarter 2016 produced a healthy net absorption after a busy 90 days. The total 18 transactions pushed 1Q2016 net absorption just below 700,000 sf.

Activity in 1Q2016 decreased the overall market vacancy by 190 bps quarter-over-quarter and by 410 bps year-over-year to a new low of 6.6 percent.

Cold storage rents quickly impact averages where some available cold-storage properties are asking above $10 per sf, more than double compared to the warehouse average of $3.83 per sf.

During 1Q2016, the cold storage average asking rent saw a quarterly increase of 11.7 percent to $11.39 per sf.

CBRE
McAllen-Edinburg-Mission
Industrial
https://assets.recenter.tamu.edu/Documents/MktResearch/McAllen_Industrial_CBRE.pdf

​Click to see​ the full CBRE McAllen Industrial MarketView 1Q2016 (PDF).

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