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

February 21, 2014
During the fourth quarter 2013, two buildings totaling 119,655 square feet were completed in the Austin market area. This compares to one building totaling 7,000 square feet that were completed in the third quarter 2013.

There were 448,464 square feet of Industrial space under construction at the end of the fourth quarter 2013.

Some of the notable 2013 deliveries include: Heritage Crossing - Bldg. 2, a 115,655-square-foot facility that delivered in fourth quarter 2013, and 16746 Fitzhugh Rd - Bldg. 2, a 29,000-square-foot building that delivered in second quarter 2013 and is now 100% occupied.

The largest projects underway at the end of fourth quarter 2013 were Heritage Crossing - Bldg. 1, a 222,454-square-foot building, and 2232 I-35 Fwy S, a 45,000-square-foot facility that is 100% pre-leased.

Total Industrial inventory in the Austin market area amounted to 92,084,455 square feet in 3,722 buildings as of the end of the fourth quarter 2013. The Flex sector consisted of 22,761,536 square feet in 577 projects. The Warehouse sector consisted of 69,322,919 square feet in 3,145 buildings. Within the Industrial market there were 243 owner-occupied buildings accounting for 17,429,662 square feet of Industrial space.

This trend is compared to U.S. National Industrial deliveries and construction, which saw 150 buildings totaling 18.5 million square feet complete construction, with an additional 98.46 million square feet of industrial space still under construction at the end of the fourth quarter. The 1.62 million-square-foot Home Depot Distribution Center delivered in the Chicago market, while a 2.1 million-square-foot manufacturing building was still underway in the Phoenix market. Total industrial inventory in the U.S. market totaled 20.87 billion square feet in almost 615,000 buildings at the end of the fourth quarter 2013, including almost 68,000 owner-occupied projects.

The information in this news report is based on CoStar’s Fourth 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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