Jan 13, 2017
El Paso industrial market indicators 3Q 2016
EL PASO – El Paso's industrial overall vacancy rate fluctuated throughout 2016; the 8.7 percent rate reported first quarter 2016 fell to 6.6 percent at mid-year and then rose to...
EL PASO – El Paso’s industrial overall vacancy rate fluctuated throughout 2016; the 8.7 percent rate reported first quarter 2016 fell to 6.6 percent at mid-year and then rose to 7.1 percent at 3Q, according to CUSHMAN & WAKEFIELD | PIRES.
A considerable portion of the available space is represented in two buildings that became vacant, Leviton and Mount Franklin Foods.
However, this 3Q vacancy rate of 7.1 percent represents a drastic decline from 13.1 percent reported last year at this time.
Class A vacancy remained near 2 percent. Average asking rents have held at or near $3.90 per square foot (PSF) with higher rates ($4.25 PSF) on the true Class A product.
OUTLOOK
The outlook continues to be strong, but headwinds have built to a point that they cannot be ignored.
El Paso | Juarez is a production and cost center for manufacturing and distribution and the national and global concerns resonate quickly in this region.
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