AUSTIN--Austin's industrial market continues toprogress with rental rates rising yet again in the second quarter,according to a new report from ColliersInternational.

The citywide average quoted rental rate increased by 1.6 percentbetween quarters from $8.21 to $8.34 per square foot, and increased18.5 percent on a year-to-year basis from $7.04 per squarefoot.

"It's been great to see all of the recent leasing at Expo Centerin the southeast submarket,” Travis Hicks, vicepresident/industrial in Colliers' Austin office,, referring to Kendra Scott taking64,800 square feet at the new Expo 11, and Novitextaking 122,400 square feet at Expo 8. “With all of theactivity and pending deals we see in the market right now, I thinkwe'll see the other big blocks of space lease up very soon as well,leaving little to zero 60,000 square feet to 120,000 square feetspaces remaining in the southeast submarket."

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.