McAllen industrial market hits record-low vacancy rate McAllen industrial market hits record-low vacancy rate https://www.recenter.tamu.edu/news/newstalk-texas/?Item=232032019-10-02T05:00:00Z2019-10-04T22:00:00Z

​​​McALLEN – The industrial market registered positive net absorption despite dwindling availability and a lack of speculative development during third quarter 2019. 

According to a CBRE report, local net absorption​ fell to 86,317 sf. There is 772,124 sf of industrial space under construction across the metro, and no space came online last quarter. 

The marketwide vacancy rate dipped 30 basis points (bps) from 2.8 percent in 3Q2018 to 1.3 percent, a new record low. 

The Class A vacancy rate ended the quarter at 2 percent, declining by 70 bps quarterly and by 40 bps annually. It was the lowest Class A vacancy rate in the market.

Since third quarter 2018, marketwide asking rents grew by $0.56 to $4.90 per sf. Class A and B asking rents grew by $0.23 and $0.50 per sf, respectively.​

The quarter closed with users seeking 1.7 million sf, 590,000 sf more than the available total and five times more than the total amount of vacant space in the market.

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