AUSTIN - The market is the tightest it has ever been in the 30-year history of tracking local industrial lease space, according to REOC Austin.
According to the survey of more than 38.1 million sf of industrial properties, less than 1.83 million sf is currently vacant which translates into an incredibly tight citywide vacancy rate of 4.8 percent.
The current vacancy rate is down from 6.4 percent first quarter 2016 and 9.1 percent recorded in the 1Q 2015.
Looking back just six years ago, vacancy peaked in June 2010 at nearly 24 percent with roughly 9 million sf of darkened space sitting vacant.
The market has not seen such a tight vacancy rate since the mid-90’s when the market was only half the size it is today.
The booming local economy continues to fuel demand for industrial space.
See REOC Austin's 2Q 2016 industrial and office reports plus historical right here.
Also check out Austin Industrial Market Research with a variety of sources.
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