Jun 30, 2015
CBRE: McAllen area industrial market 1Q 2015
McALLEN - The McAllen industrial market started 2015 with positive net absorption. The 21,600 sf of net absorption continued to decrease the market vacancy rate to 10.7 percent in 1Q...
McALLEN – The McAllen industrial market started 2015 with positive net absorption.
The 21,600 sf of net absorption continued to decrease the market vacancy rate to 10.7 percent in 1Q 2015.
Though the reported net absorption is relatively small, market activity managed to offset 120,000 sf of newly vacated space and ultimately produced a sixth consecutive quarter of positive net absorption.
| Market | Rentable Area (SF) | Vacancy Rate | Availability Rate | Net Absorp. (SF) | Net Avg. Asking Rates (SF/Yr.) |
| McAllen | 11,497,339 | 11.4% | 12.8% | -1,600 | $3.85 |
| Pharr | 3,598,958 | 4.0% | 6.1% | 23,250 | $5.62 |
| Edinburg | 2,245,771 | 12.4% | 13.4% | 0 | $3.12 |
| Hidalgo | 1,435,748 | 16.3% | 16.3% | 0 | $4.08 |
| Mission | 1,436,640 | 7.1% | 25.9% | 0 | $4.20 |
| Off-Park | 2,283,597 | 14.4% | 17.5% | 0 | $4.01 |
| Totals | 22,498,053 | 10.7% | 13.3% | 21,600 | $4.06 |
Source: CBRE Research 1Q 2015
Full report? See Industrial MarketView 1Q 2015 (PDF)
More stats or stories? Visit McAllen Market Research and McAllen NewsTalk.
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