McAllen industrial vacancy rate hits historic low
McALLEN – Following a soft previous quarter, third quarter 2018 returned to positive absorption territory with 246,642 sf of net absorption in the industrial market.
The market-wide vacancy rate declined to 2.8 percent, a new record low. Class A and B vacancy rates also hit record lows, falling to 2.4 percent and 2.8 percent, respectively.
Average asking rates dipped compared with last quarter as Class C has continued to make up a larger portion of market availability. At the close of the third quarter, 50 percent of all available space in the market was Class C.
Source: NewsTalk Texas RSS
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