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Market Trend: Austin's Industrial Space Vacancy Decreases to 8.2%

Net Absorption Positive 384,478 SF in the Quarter
November 8, 2013
The Austin Industrial market ended the third quarter 2013 with a vacancy rate of 8.2%.

The vacancy rate was down over the previous quarter, with net absorption totaling positive 384,478 square feet in the third quarter. That compares to positive 62,138 square feet in the second quarter 2013. Vacant sublease space increased in the quarter, ending the quarter at 295,533 square feet.

Tenants moving into large blocks of space in 2013 include: Warner Brothers moving into 105,053 square feet at Flemtex Distribution Center, Liquis Inc moving into 40,053 square feet at Corridor Park 11, and Apto Solutions moving into 24,047 square feet at Corridor Park 1.

Rental rates ended the third quarter at $7.39, an increase over the previous quarter.

A total of one building delivered to the market in the quarter totaling 7,000 square feet, with 465,172 square feet still under construction at the end of the quarter.

This trend is compared to the U.S. National Industrial vacancy rate, which decreased to 8.3% from the previous quarter, with net absorption totaling positive 50.37 million square feet in the third quarter. Average rental rates increased to $5.31 this quarter, and 202 industrial buildings delivered to the market totaling more than 22.4 million square feet.

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