ROUND ROCK - Market demand for industrial properties is strong in the Austin area with the Round Rock submarket catching on fire in fourth quarter 2013, according to fourth quarter 2013 MarketView by CBRE. During the last three months of 2013, nearly 183,000 sf of positive absorption was recorded in Round Rock, far outpacing other areas.
Vacancy fell to 9.8 percent, marking the lowest level since 2001. Nearly 461,000 sf of industrial space was absorbed by new leases or expansion.
The average asking rate for industrial space was 63 cents per sf, up from 61 cents the previous quarter and 57 cents a year earlier. While no new construction was delivered, about 623,000 sf is currently under construction.
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