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Texas  + Industrial  |  October 9, 2020
Paul Bubny
By: Paul Bubny

Austin Industrial Demand Posts 25th Positive Quarter

Although the third quarter didn’t bring good news for leasing fundamentals in Austin’s office and retail sectors, industrial was a different story. CBRE reported that strong tenant demand for distribution space drove Austin industrial to its 25th consecutive quarter of positive net demand.

Vacancy decreased 40 basis points to 9.7% in Q3.  “As demand remains robust for distribution space, particularly for last-mile operations, Austin’s industrial market will continue to see increased interest from investors who have not previously looked at the Central Texas region,” CBRE reported.

Quarter-over-quarter, average asking rates rose $0.24 to $9.88 per square feet in Q3, CBRE reported 2020.  While flex/R&D rates decreased $0.14 to $11.81 per square foot, warehouse rates climbed from $7.66 in Q2 to $8.38 per square foot.
 
The development pipeline remained robust in Q3 2020, with 15 projects totaling approximately 1.34 million square feet under active construction. There were no deliveries in Q3.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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