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Market Trend: Austin's Industrial Deliveries, Construction and Inventory

August 22, 2013
During the second quarter 2013, two buildings totaling 19,000 square feet were completed in the Austin market area.

This compares to four buildings totaling 25,735 square feet that were completed in the first quarter 2013, three buildings totaling 16,800 square feet completed in the fourth quarter 2012, and 13,000 square feet in two buildings completed in the third quarter 2012.

There were 383,351 square feet of Industrial space under construction at the end of the second quarter 2013.

Some of the notable 2013 deliveries include: Scottsdale Crossing Commerce Park - Building, a 15,000-square-foot facility that delivered in second quarter 2013, and 1900 E Howard Ln - Building A, a 12,500-square-foot building that delivered in first quarter 2013 that is now 32% occupied.

The largest projects underway at the end of second quarter 2013 were Heritage Crossing - Bldg 1, a 222,000-square-foot building with 0% of its space pre-leased, and Heritage Crossing - Bldg 2, a 115,200-square-foot facility that is 0% pre-leased.

Total Industrial inventory in the Austin market area amounted to 87,863,613 square feet in 3,373 buildings as of the end of the second quarter 2013. The Flex sector consisted of 21,402,275 square feet in 528 projects. The Warehouse sector consisted of 66,461,338 square feet in 2,845 buildings. Within the Industrial market there were 230 owner-occupied buildings accounting for 17,407,444 square feet of Industrial space.

This trend is compared to U.S. National Industrial deliveries and construction, which saw 167 buildings totaling 17.46 million square feet complete construction with an additional 56.6 million square feet of industrial space still under construction at the end of the second quarter. The 1.29 million-square-foot Home Depot BTS delivered in the Atlanta market, and the 1.8 million-square-foot Intel Ronler Acres D1X in the Portland market is still underway. Total industrial inventory in the U.S. market area totaled 20.8 billion square feet in more than 611,000 buildings at the end of the second quarter 2013, including almost 67,500 owner-occupied industrial buildings.

The information in this news report is based on CoStar’s Second Quarter 2013 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.

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