EL PASO (CBRE) – The city's industrial market had 577,578 sf of positive net absorption in the second quarter, reports CBRE. This marks the largest quarterly net gain in area demand in more than seven years, pushing vacancy to a post-recession low of 10.9 percent.
The positive industrial net absorption streak is the longest and largest in El Paso since 2007, resulting in more than 1.8 million sf of total net occupier demand.
The recent quarter’s hefty growth of more than a half-million sf is the largest since the beginning of the recession. CBRE said the healthy activity decreased the overall market vacancy rate by 90 basis points (bps) quarter-over-quarter and by 280 bps year-over-year to levels not seen since the beginning of the economic recovery.
The firm's full second-quarter 2015 El Paso industrial report is online.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.