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Q1 2020 | Austin Industrial | Research & Forecast Report

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Austin's industrial absorption takes a hit with the arrival of COVID-19

HOUSTON - eTradeWire -- Austin's industrial market posted 288,393 square feet of negative net absorption in the first quarter of 2020, with 186,904 coming to the market at NorthTech Business Center (4616 West Howard Lane). Leasing activity remained high as a large number of sizeable tenants occupied significant blocks of space over the quarter, including Amazon leasing Park 35 (2956 Main Street). The building consists of 305,768 square feet and is located in the Southeast submarket.

Austin's citywide average rental rates increased over the quarter, moving up to $10.72 per square foot in Q1 2020 from $10.13 per square foot in Q4 2019. The average citywide Flex/R&D rental also increased, moving up to $14.54 per square foot from $13.33. The average Warehouse/Distribution rental rate increased moderately over the quarter from $9.14 per square foot to $9.34 per square foot.

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In all, 1,067,465 square feet of industrial supply is under construction consisting of eleven projects. 830,765 square feet of projects in the development pipeline are scheduled to deliver in the... Read the full report here: https://www2.colliers.com/en/Research/Austin/2020-Q1-Industrial-Austin-Report

Kaitlin Holm | Research & Marketing Coordinator

Source: Colliers International | Austin
Filed Under: Real Estate

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