McALLEN – Local industrial net absorption fell to negative 7,891 sf in second quarter 2018, but activity remained healthy, according to a CBRE report.
The vacancy rate increased from first quarter's record low of 3 percent to 3.5 percent, still well below the historical average of 9.6 percent.
Average asking rents declined, hitting $4.47 per sf. Class A asking rents are up to $4.78.
In the second quarter, 50,000 sf of industrial space was delivered. There was 585,000 sf under construction.
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