El Paso industrial space vacancy rate dips in 2Q

EL PASO – The city’s industrial real estate vacancy rate declined to 10.9 percent in second quarter 2015, creating the tightest industrial-space market in seven years, CBRE Group reported in its second quarter 2015 overview.

El Paso’s industrial vacancy rate, which includes industrial parks in Santa Teresa, was 13.7 percent in second quarter 2014.

The El Paso market had 5.9 million sf of vacant space in the second quarter — a decline of almost 1.6 million sf from a year ago, reported CBRE.

Five large buildings accounted for 2.3 million of available industrial space in the El Paso area, or 31 percent of all available industrial space, CBRE reported.

Developers are in talks to build about 250,000 sf of space on speculation in Santa Teresa, CBRE reported.

Click CBRE 2Q 2015 El Paso Industrial MarketView (PDF) to see the full report.