CBRE: New construction blankets the Hill Country

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AUSTIN – CBRE has released its Austin Industrial MarketView Second Quarter 2017 report.

While absorption was muted, new construction delivered to the market defined 2Q 2017 as developers continued to increase the industrial product in the metro.

More than 860,000 sf of new development delivered this quarter, with the Southeast submarket completing approximately 650,000 sf as the Freeport Tech South and Commerce Center South complexes expanded their footprint.

Vacancy ticked up from 7.2 percent in 1Q 2017 to 8.8 percent in 2Q 2017, while the average annual asking rent climbed a whopping 20 cents from last quarter to $10.52 per sf.

The industrial market registered 120,891 sf of positive net absorption in 2Q 2017.

The top-performing submarket in 2Q 2017 was southern Hays County with approximately 49,000 sf of net absorption.​

Also see CBRE Austin​ for more information.