AUSTIN – At the close of second quarter 2018, industrial developers continued their expansion of the local industrial market by delivering 124,476 sf of new product, according to a CBRE market report.
At the end of the quarter, there was over 1.6 million sf of new industrial space under construction across the metro, up by over 600,000 sf from last quarter.
Vacancy fell to 9.9 percent.
The citywide average annual asking rent increased $0.02 to $9.89 per sf. Absorption activity was strong with positive net absorption of 82,633 sf, more than the quarter before.
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