Jan 6, 2017
CBRE: El Paso industrial net absorption stays positive
EL PASO – CBRE has released its Q4 2016 Industrial MarketView for the city. Among the highlights:Leasing activity remained healthy in the fourth quarter, and total 2016 market net absorption finished in positive territory. Overall...
EL PASO – CBRE has released its Q4 2016 Industrial MarketView for the city. Among the highlights:
- Leasing activity remained healthy in the fourth quarter, and total 2016 market net absorption finished in positive territory. Overall industrial vacancy hovered steadily at 8.8 percent, the tightest annual vacancy in the current cycle.
- The average asking industrial lease rate increased by $0.01 to $4.16 per sf in the fourth quarter. This pushed average rents up by $0.12 per sf, or 3 percent compared with a year ago.
- Two build-to-suit projects were started in the fourth quarter—a warehouse in the Lower Valley and a cold storage facility in the west submarket. The projects are expected to be completed mid-2017 and will deliver roughly 300,000 sf.
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