EL PASO, TX–According to the latest El Paso IndustrialMarketView report from CBRE, the localmarket set a new 13-quarter high, seeing its highest net absorptiontotal since the first quarter of 2011. Total transactions for thequarter were 624,202 square feet, with 341,574 square feet ofpositive absorption. This positive net absorption comes in the wakeof two quarters of negative net absorption.
CBRE's Christian Perez Giese tells GlobeSt.com,“I am surprised by the dynamics locally for supply of smaller classA space compared to larger class A space. The market for smallerspaces is much tighter than for larger spaces.”
As with most Texas markets, class A space isseeing the highest level of demand. For class A space under 100,000square feet, the vacancy rate fell to 2.8% this quarter.
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