|McAllen industrial vacancy rate hits historic low||McAllen industrial vacancy rate hits historic low||https://www.recenter.tamu.edu/news/newstalk-texas/?Item=21226||2018-10-11T05:00:00Z||2018-10-11T23:00:00Z|
McALLEN – Following a soft previous quarter, third quarter 2018 returned to positive absorption territory with 246,642 sf of net absorption in the industrial market.
The market-wide vacancy rate declined to 2.8 percent, a new record low. Class A and B vacancy rates also hit record lows, falling to 2.4 percent and 2.8 percent, respectively.
Average asking rates dipped compared with last quarter as Class C has continued to make up a larger portion of market availability. At the close of the third quarter, 50 percent of all available space in the market was Class C.
The quarter closed with users seeking 1.3 million sf of space. This is only 546,000 sf less than total available sf and almost double the total vacant sf in the market.
Check out McAllen-Edinburg-Mission Industrial Market Research.