July 11, 2018
The metrics for El Paso industrial are in and show that Q2 2018 net absorption more than tripled from the previous quarter, ending up at 436,979 square feet. Meanwhile, vacancy remained flat at 7.9%, though vacancy for Class A space dropped by 130 basis points to 13.4%, according to CBRE.
Meanwhile, continued demand and market activity has been boosting asking rents. Class A rents stood at $4.50, a new cycle record, CBRE analysts said. Though an 87,000-square-foot spec project came online during the quarter, the current project pipeline consists mainly of build-to-suit developments. Seven properties are currently under development.
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