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'Robust demand' spurs Austin industrial development'Robust demand' spurs Austin industrial developmenthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=155322017-01-06T06:00:00Z2017-01-06T18:00:00Z

​​AUSTIN – Two words defined the city's industrial market in 2016: absorption and construction. That's according to CBRE's fourth quarter 2016 market report. Some highlights:

  • Citywide industrial vacancy reached 7.3 percent for the year, a low not seen since the late '90s, with four submarkets having vacancy under 3 percent. Citywide warehouse vacancy was at 6 percent, and flex warehouse was 9.4 percent.
  • Triple-net asking rents increased $0.05 per sf during the year, finishing at $0.85 per sf on an annual basis.
  • The city posted just over 1 million sf of positive net absorption throughout 2016, with 436,261 sf of that consisting of warehouse product, and 613,278 sf consisting of flex product.
  • Twenty-three projects totaling around 1.6 million sf broke ground during the year.
  • Area unemployment registered at 3.2 percent at year end, well below the state and national average.​
CBRE
Austin-Round Rock
Industrial
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