AUSTIN – The local industrial market continued to slip as development peaked in the beginning of 2020.
According to CBRE, average asking rates fell $0.24 quarter over quarter to $9.56 per sf.
Vacancy increased 30 basis points to 10.8 percent.
Absorption fell to 222,416 sf.
Despite slackening fundamentals, developers have remained bullish on the metro’s market. Total average construction rose to 1.2 million sf, and 432,919 sf came online.
The Real Estate Center has more Austin real estate news:
Source: CBRE