Apr 15, 2016
CBRE: El Paso industrial 1Q 2016: sliding to single-digit vacancy
EL PASO - After an annual net absorption of 1.6 million sf in 2015, 2016 stared stronger than any other year in the current cycle, according to CBRE’s El Paso...
EL PASO – After an annual net absorption of 1.6 million sf in 2015, 2016 stared stronger than any other year in the current cycle, according to CBRE’s El Paso Industrial MarketView report.
Industrial demand picked up even more steam at the start of 2016 after registering the largest net absorption since 4Q 2007 and the highest number of transactions, including a lease of the second largest vacant building in town since 2013.
Positive activity kept vacancy on a sharp decline past single digits to 8.4 percent.
The now eight quarter positive streak means the market has now eliminated 3.1 million sf of vacant space over the trailing two years.
The neighboring and complementary industrial market in Cuidad Juarez reported its 14th quarter of nonstop positive net absorption.
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