AUSTIN – With over 850,000 sf of industrial space completed, the local market has started the year off strong, according to CBRE's first quarter 2018 industrial report.
Nearly 1.2 million sf of industrial space is in the pipeline, showing that developers remain optimistic on the market, the report said.
Austin-Round Rock absorbed 475,757 sf of industrial space in the first quarter.
For the first time since 2014, vacancy hit 10.8 percent. Average annual asking rent dropped by $0.28 to $9.87 per sf.
Industrial developers delivered 28 percent more product within the past five quarters than during the entirety of 2010-16.
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