El Paso CBRE industrial 4Q 2013
EL PASO – El Paso’s industrial vacancy rate increased to 14.4 percent at the end of 2013, compared to 13.9 percent at the end of 2012, according to CBRE Group.
The closure of the 418,000-sf Eureka warehouse in the Lower Valley is part of the reason the vacancy rate increased in 4Q 2013. The largest new lease in 4Q 2013 was by manufacturer Handgards Inc. for 126,000 sf in Northeast El Paso.
In Juarez, the industrial vacancy rate decreased to 10.4 percent. It was 15 percent at the beginning of 2013. TPI Composites had the largest new lease for 189,000 sf. It also absorbed 98,000 sf for an expansion.
| Market |
Rentable Area (SF) |
Vacancy Rate | Availability |
Net Absorption (SF) |
Deliveries (SF) |
SF Under Const. |
Avg. Asking Rate ($/SF/Year) |
|---|---|---|---|---|---|---|---|
| West | 7,272,653 | 5.0% | 8.6% | 58,000 | 58,000 | 80,000 | $3.66 |
| Northeast | 9,002,943 | 17.5% | 20.0% | 233,104 | 0 | 0 | $3.22 |
| Central | 13,789,635 | 6.4% | 8.8% | 41,750 | 0 | 0 | $3.17 |
| East | 18,147,069 | 16.1% | 17.9% | -53,554 | 0 | 23,280 | $3.76 |
| Lower Valley | 6,252,369 | 33.1% | 34.8% | -418,500 | 0 | 0 | $3.94 |
| Total | 54,464,669 | 14.4% | 16.7% | -139,200 | 58,000 | 103,280 | $3.62 |
For the complete page from CBRE, see El Paso Market Data Sources Industrial MarketView Preview.
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