McAllen industrial vacancy hits record low | McAllen industrial vacancy hits record low | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=22350 | 2019-04-18T05:00:00Z | 2019-04-19T00:00:00Z | McALLEN – The industrial vacancy rate fell 130 basis points over the year in first quarter 2019 to 1.7 percent, beating fourth quarter 2018's previous record low of 2.4 percent.
According to CBRE, net absorption in the last quarter was 111,000 sf more than the combined first quarter net absorption for 2017 and 2018, which also surpassed the ten-year quarterly absorption average by 129,000 sf.
Marketwide asking rates grew by $0.30 per sf over the quarter. Class A and B rents increased by $0.11 per sf, a new record high for both product classes as well as the marketwide rate. The quarter closed with users seeking over 1.7 million sf. This is 635,000 sf more than the total available sf and four times more than the total vacant sf in the market.
| CBRE
| McAllen-Edinburg-Mission
| Industrial
| https://www.cbre.com/report-download?PUBID=89129adc-c3d8-4633-91a4-9861423b94a8 | | | | See the full report at {Source} |