SAN ANTONIO – The local industrial market remained healthy in 1Q2020 before the COVID-19 outbreak.
Vacancy rose 50 basis points quarter over quarter to 6.9 percent due to a large amount of speculative deliveries. Year over year, it rose 10 basis points.
Absorption fell 1.1 million sf quarter over quarter to negative 323,000 sf.
There is 5.3 million sf under construction, with 40 percent available. Last quarter, 219,652 sf came online.
Average asking rate remained level at $0.50.
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Source: Connect Media