Austin’s Q3 Industrial: Mixed Numbers, But Optimistic
The Q3 2019 reports for Austin’s industrial sector appeared to be all over the place. While NKF and CBRE pointed to a softening market, Colliers International pointed to a jump in new construction and absorption, as did NAI Partners. The reports were also mixed on asking rates, with some pointing to jumps, and others noting a decline. All cited low unemployment rates, and more supply coming to the market.
As for the outlook, the Cushman & Wakefield report pointed out that, despite the potential headwinds of a slowing economy, “Austin’s diversified economy appears poised to withstand a downturn better than most cities, and confidence in the Texas capital remains strong.”
NKF agreed, pointing out that, with the Austin market ranked No. 1 in the PricewaterhouseCoopers and Urban Land Institute Emerging Trends in Real Estate 2020 report, “the high level of continued interest in the region . . . and increasing development indicate that the Austin industrial market has the necessary tools as it waits for stronger demand from tenants to bolster activity.”
Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.