CBRE: McAllen industrial market 4Q 2014CBRE: McAllen industrial market 4Q 2014https://www.recenter.tamu.edu/news/newstalk-texas/?Item=17742015-02-11T14:29:00Z2015-02-11T00:00:00Z

McALLEN - CBRE Research reports a fifth consecutive quarter of positive net absorption in the McAllen industrial market.

The fourth quarter 2014 net absorption of 63,447 sf decreased the market vacancy rate to 11.3 percent and elevated the year-to-date net absorption to 550,293 sf.

McAllen manages to weather a significantly large vacancy this quarter, and ultimately outperform the previous two years in 2014.

The largest reported vacancy during fourth quarter 2014 was by International Paper as they vacated 211,208 sf as part of a contraction.

The McAllen industrial market includes 22.3 million sf of space spread across five major submarkets including Mission, Edinburg, Pharr, Hidalgo and McAllen.

Most of the major industrial areas are south of Hwy. 83, near international bridges connecting the U.S. with Reynosa, Mexico.

U.S.-Mexico trade is the major driver of industrial demand in McAllen in addition to produce distribution from South Texas and Mexico.

CBRE: McAllen Industrial Market 4Q 2014
Market Rentable
Net Avg.
McAllen 11,497,177 1,380,013 12.0% $3.93
Pharr 3,609,899 197,903 5.5% $5.42
Edinburg 2,244,241 255,208 11.4% $3.12
Hidalgo 1,435,748 231,850 16.1% $4.17
Mission 1,436,640 101,560 7.1% $4.20
Off-Park 2,149,098 354,598 16.5% $3.22
Totals 22,372,803 2,521,132 11.3% $3.92

Source: CBRE Research 4Q 2014

For CBRE’s full report, click here.

tag: McAllen-Edinburg-Mission NewsTalk Texas

http://www.cbre.us/research/pages/local-reports.aspxRead more at {Source}

 Search NewsTalk Texas