Austin industrial 2Q 2013: NAI REOC
AUSTIN – The Austin industrial market is tracking a path of slow but steady improvement, according to the survey of more than 37 million sf of industrial lease space conducted by NAI REOC Austin.
The return of short-term leased space temporarily raised vacancy and put absorption in the red at the end of first quarter but leasing activity in 2Q generated 356,683 sf of positive net absorption with gains fairly evenly split between Warehouse and Flex/R&D property types.
At mid-year, industrial properties have gained a year-to-date total of 215,311 sf of occupied space. As a result, the citywide vacancy rate improved to 12 percent.
Citywide, asking rents currently range from 65 cents to 95 cents per sf per month for Service Center/Flex space and 38 cents to 55 cents for warehouse space.
The biggest contributor to the quarter’s gain was the lease of 104,291 sf by Warner Bros. in the US Foods Building located at 5330 Fleming Ct.
| 2Q 2013 | 2Q 2012 | |
| Inventory | 37,057,083 | 37,251,993 |
| Available | 4,463,481 | 5,910,686 |
| Vacant | 12% | 15.9% |
| 2Q absorption | 356,683 | 595,013 |
| YTD absorption | 215,311 | 746,805 |
Read more at NAI REOC. See more Austin industrial information.
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