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Developers Seem Hard Pressed to Close the Supply-Demand Gap

AUSTIN, TX—The booming economy is fueling demand for industrial space, with less than 1.83 million square feet currently vacant, translating into an incredibly tight citywide vacancy rate of 4.8%.

Bob Springer Springer says the market likely will not register a significant vacancy spike when product arrives.

AUSTIN, TX—According to the quarterly REOC Austin survey of more than 38.1 million square feet of industrial properties, less than 1.83 million square feet is currently vacant which translates into an incredibly tight citywide vacancy rate of 4.8%. The current vacancy rate is down from 6.4% last quarter and 9.1% recorded in the same quarter a year ago. 

Looking back just six years ago, vacancy peaked in June 2010 at nearly 24% with roughly 9 million square feet of darkened space. The market has not recorded such a tight vacancy rate since the mid-90s when the market was only half the size it is today.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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