November 28, 2016
The industrial sector in Austin was strong in Q3 2016, with rising asking rents and falling vacancies. Specifically, the average ask among industrial product in the Capital City stood at $10.58, while the vacancy rate stood at 6.2%, according to data from Colliers International’s Austin office. Net absorption was 1.5 million square feet. Approximately 600,000 square feet was leased, with the bulk of the space taken up in the North submarket.
On the construction side, more than one million square feet was in the pipeline, including seven new projects totaling 409,595 square feet. The largest of four buildings delivered during the quarter was an 855,000-square-foot distribution center for Amazon in the Hays County submarket.
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