- Nov. 24, 2020
-- Austin's industrial market posted 887,476 square feet of positive net absorption in the third quarter of 2020, highlighting the industrial market's resilience over other sectors during the COVID crisis. Leasing activity remained strong as a large number of sizeable tenants occupied significant blocks of space over the quarter, including 3-Way Logistics leasing over 130,000 square feet of space in the Round Rock submarket. The Round Rock submarket had five leases over 10,000 square feet signed during the quarter for a total of 219,382 square feet of space.
Austin's citywide average rental rates decreased over the quarter, sliding down to $11.31 per square foot in Q3 2020 from $11.54 per square foot in Q2 2020. The average citywide Flex/R&D rental rate increased, moving up to $15.07 per square foot from $14.92. The average Warehouse/Distribution rental rate decreased moderately over the quarter from $9.56 per square foot to $9.45 per square foot.
In all, 2,349,878 square feet of industrial supply was under construction consisting of... To read the full report, click here: https://www2.colliers.com/en/research/austin/2020-q3-indu...