Q3 2016 Austin Industrial Market Report

By: Colliers International
 
HOUSTON - Nov. 22, 2016 - PRLog -- Austin's industrial market continues to tighten up. The asking rents continue to increase, the vacancy rates are still falling and construction is strong. The average rental rate increased, yet again, hitting $10.58. The vacancy rate dropped 1% from last quarter and sits at 6.2%. There is over one million square feet under construction and almost half of that is new construction. On top of all of these factors, positive net absorption jumped to 1,507,758 square feet.

Austin's citywide average rental rates increased over the quarter from $9.83 per SF NNN to $10.58 per SF NNN, the highest it has ever been. Warehouse/Distribution rental rates slightly decreased to $7.89 per SF NNN, while Citywide Flex/R&D rental rates jumped from $11.29 to $13.39 per SF NNN over the quarter.

The largest of the four buildings to deliver this quarter was Amazon's new 855,000 SF distribution center, located in the Hays County submarket. It was a majority of the 1,093,400 total square feet that delivered.

To view our complete report, please visit colliers.com/texas/austinindustrial

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Source:Colliers International
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Tags:Austin Industrial Market, Market Research, Market Report
Industry:Real Estate
Location:Houston - Texas - United States
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