McALLEN – Local industrial vancy fell to 2.4 percent last quarter, a new record low, according to CBRE’s “4Q 2018 McAllen Industrial MarketView.”
Fourth quarter 2018 net absorption increased compared with the previous quarter and pushed the annual net absorption 230,000 sf above the 2017 total.
The overall industrial average asking rate declined $0.12 per sf quarter over quarter while the warehousing and manufacturing space asking rate increased by $0.07 per sf.
The quarter closed with users seeking almost 1.6 million sf of space. This is only 111,000 sf less than total available sf and more than double the total vacant sf in the market.
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