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CBRE: El Paso industrial market 2Q 2015CBRE: El Paso industrial market 2Q 2015https://www.recenter.tamu.edu/news/newstalk-texas/?Item=4452015-07-08T07:06:00Z2015-07-08T07:00:00Z

EL PASO - El Paso’s robust industrial market reported a net absorption larger than any quarter since 4Q 2007 according to CBRE’s El Paso Industrial 2Q 2015 report.

El Paso’s industrial market saw a total of 577,578 sf of positive net absorption in 2Q 2015 — the largest quarterly net gain in area demand in more than seven years — which pushed vacancy down to a post-recession level closing in on single digits to 10.9 percent.

The positive industrial net absorption streak is the longest and largest in El Paso since 2007 and has resulted in more than 1.8 million sf of total net occupier demand.

The market average asking industrial lease rate increased by $0.10 to $3.87 per sf in 2Q 2015. The quarter-over-quarter increase of 2.7 percent is the largest gain since 3Q 2012.

As expected with a continued decline in vacancy, the 2Q 2015 average asking rate is also 3.8 percent above the same time last year.

CBRE: El Paso Industrial Market 2Q 2015
Market Rentable Area
(SF)
Vacancy
Rate
Availability
Rate
Net Absorp.
(SF)
Net Avg.
Asking Rate
(SF/Yr.)
East 18,235,903 10.5% 13.3% 346,209 $3.94
Central 13,654,541 4.2% 5.9% 114,298 $3.22
Northeast 8,763,241 14.0% 20.2% 38,971 $3.40
West 7,304,124 7.0% 9.5% - $4.56
Lower Valley 6,252,230 27.0% 28.7% 78,100 $4.16
Total 54,210,039 10.9% 13.8% 577,578 $3.87


*Ranked by market rentable area.

Click El Paso Market Research, El Paso NewsTalk.

CBRE
El Paso
Industrial
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