Austin industrial starts year off strong

​​AUSTIN – The local industrial market posted 382,166 sf of positive net absorption in first quarter 2018, according to a Colliers International report.

Last quarter, 837,441 sf of industrial space came online, up from the 60,351 sf delivered in fourth quarter 2017. Nearly 1.1 million sf was in the pipeline in first quarter 2018, up from 653,846 under construction the quarter before.

Vacancy fell from 8.3 percent over the quarter to 7.6 percent. Average asking rates increased​​​​ marginally to $10.77 per sf from $10.70. ​