CBRE: El Paso industrial 3Q 2014 + Cd. Juarez
EL PASO – El Paso’s industrial real estate market recorded a second consecutive quarter of positive net absorption in third quarter 2014, despite a significant 458,000-sf vacancy becoming available.
Total transactions in 3Q 2014 recorded 792,000 sf of gross absorption, a new two-year-high. This ultimately helped El Paso industrial weather the new largest vacancy in the market since 2010. As result, the local market produced 134,052 sf of positive net absorption.
The vacancy rate for competitive, Class A space under 100,000 sf, which is the segment of the market most demanded by local tenants, continued to drop to 2.5 percent. Of the 791,843 sf absorbed, an overwhelming 75 percent was Class A product and 17 percent was Class B.
Below is a preview of CBRE‘s 3Q 2014 full report.
| Market | Rentable Area (SF) | Vacancy Rate | Availability Rate | Net Absorption (SF) | Asking Lease Rates ($/SF/Year) |
| West | 7,304,124 | 7.4% | 7.4% | -116,940 | $3.84 |
| Northeast | 9,002,943 | 16.4% | 20.1% | 71,382 | $3.38 |
| Central | 13,788,135 | 5.7% | 6.8% | 4,800 | $3.07 |
| East | 18,166,890 | 14.2% | 17.7% | 196,450 | $3.87 |
| Lower Valley | 6,252,369 | 31.4% | 33.3% | -21,640 | $4.05 |
| Total | 54,514,461 | 13.4% | 15.7% | 134,052 | $3.73 |
Click for the CBRE’s full report including previous quarters.
For Ciudad Juarez, click here.
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