AUSTIN – Local industrial investors and users began the year with what CBRE called a "sense of composed positivity" in its first-quarter 2017 market update.
According to the report, vacancy held steady at 7.2 percent, while average asking rents climbed to $10.32/sf/year, up $0.12/sf from the previous quarter.
Developers delivered more than 550,000 sf in the first quarter. An additional 1.1 million sf are underway.
The industrial market absorbed 144,672 sf.
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