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CBRE: El Paso industrial 2Q 2014 + Cd. JuarezCBRE: El Paso industrial 2Q 2014 + Cd. Juarezhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=35592014-07-22T11:30:00Z2014-07-22T06:49:00Z

EL PASO - El Paso recorded a solid level of positive net absorption in second quarter 2014, after two consecutive quarters of negative net absorption. Additionally, the local market set a 13-quarter high for net absorption.

The reported 341,574 sf of net absorption in 2Q 2014 was a result of 624,202 sf of gross absorption and 282,628 sf of newly vacated space. This ultimately decreased the overall market vacancy rate to 13.7 percent, from 14.5 percent in 1Q 2014.

Furthermore, the West submarket recorded the highest net absorption of 327,432 sf, which cut the West submarket vacancy rate by more than half, to 4.3 percent. The historically active Lower Valley submarket recorded 138,211 sf of net absorption. The East and Northeast submarkets reported negative net absorption, while the Central submarket remained inactive.

Below is a preview of CBRE's 2Q 2014 full report.

El Paso Industrial Market Statistics 2Q 2014
Market Rentable
Area (SF)
Vacancy
Rate
Availability
Rate
Net
Absorption
(SF)
Avg. Asking
Rate
($/SF/Year)
West 7,297,692 4.3% 10.6% 327,432 $3.95
Northeast 9,002,943 17.2% 22.0% -47,700 $3.34
Central 13,788,135 6.5% 8.1% 0 $3.08
East 18,166,890 15.4% 19.3% -76,369 $3.89
Lower Valley 6,252,369 31.0% 32.7% 138,211 $4.05
Total 54,508,029 13.7% 17.3% 341,574 $3.73


Click for the CBRE's full report including previous quarters.
For Ciudad Juarez, click here.

Also see other real estate sectors at El Paso Market Data Sources.

CBRE
El Paso
Industrial
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