El Paso industrial market update 3Q 2013: CBRE

EL PASO – The vacancy rate in third quarter 2013 for industrial buildings remained unchanged from a year ago at 14.1 percent in El Paso, according to a report by CBRE Group

The report also shows these statistics:

•  asking rates: $3.58 per sf
•  net absorption: 40,611 sf
•  under construction: 168,000 sf

The largest deals in El Paso in the 3Q 2013 were GCX Corp.’s purchase of 95,200 sf in Northeast, and Houston Foam Plastics’ lease of 90,000 sf in Central El Paso.

The Verde Realty, Industrial Developments International Inc. merger will also have an effect on the industrial market as it has acquired 4.7 million sf of space in El Paso.