|CBRE: El Paso-area industrial market solid||CBRE: El Paso-area industrial market solid||https://www.recenter.tamu.edu/news/newstalk-texas/?Item=19908||2018-04-24T05:00:00Z||2018-04-25T00:00:00Z|
EL PASO – Fundamentals are strong in El Paso’s industrial real estate market as of the beginning of 2018, according to CBRE’s 1Q 2018 Industrial Report for El Paso and Ciudad Juarez.
At the end of 2017, El Paso’s 57 million-sf industrial market was 7.5 percent vacant, down from 8.8 percent a year earlier.
That downward trend prevailed during first quarter 2018, with demand staying ahead of a very limited volume of new supply.
The level of new industrial construction in El Paso—771,500 sf at the end of fourth quarter 2017—has not been this strong for well over a decade.
But unfortunately for users, very little of it is showing up as available space.
Only two new speculative buildings are under construction north of the Texas/Mexico border, both of which will deliver this April 2018.
In addition, 53 percent of the vacant industrial product consists of spaces that are 200,000 sf or larger.
The average new lease size over the past five years has been just 45,000 sf.
|REBUSINESS||El Paso||Industrial|| http://rebusinessonline.com/industrial-vacancy-tightens-in-el-paso-despite-heavy-construction/|
Check out more El Paso Industrial Market Research here.