AUSTIN, TX—During the second quarter, citywide industrial vacancy hit 6.7%, the lowest in almost two decades, with a citywide warehouse vacancy of 5.1%. And, three submarkets have vacancy under 3%, says CBRE in its Austin industrial market report. Since the first quarter of 2014, warehouse NNN rates have increased by 24.5%, while flex rates have increased by 31.6%, says CBRE.
Four new industrial construction projects broke ground in the Southeast submarket, bringing the marketwide under construction total to 1.04 million square feet. Warehouse product led industrial absorption in the second quarter with 167,260 square feet. Among the newest lease activity to contribute to the industrial score card are two lease renewals and one new lease.
Goodman Manufacturing Company LP has renewed its distribution warehouse lease for 33,900 square feet at Stonehollow A located at 11700 Stonehollow Dr. Goodman, a member of the Daikin group, designs, engineers and manufactures residential air conditioning and heating products. Anthony Fritsche of Fritsche Anderson Realty Partners and Leigh Ellis of AQUILA Commercial represented Goodman. Jordan Walker and Andy Thomas with HPI represented the landlord.
Getagadget has renewed its 30,600 square foot lease at Montopolis Distribution Center building one located at 6406 Burleson Rd. Getagadget produces souvenir and promotional items for resorts and events. Ellis and David Putman of AQUILA Commercial represented Getagadget and Otto Swingler with Live Oak/Gottesman represented the landlord.
Aristocrat Technologies has signed a 24,412-square-foot lease at Domain 1 located at 11801 Domain Blvd. Aristocrat Technologies is an ASX100-listed company and an international provider of gaming solutions, based out of Australia. Matt Wilhite, Jon Wheless and Max McDonald of AQUILA Commercial represented Aristocrat Technologies and Jonathan Tate with Endeavor Real Estate Group represented the landlord.
Wheless tells GlobeSt.com: “Aristocrat Technologies has grown significantly since signing their original lease here in Austin. We were excited to assist them in securing a new space that will accommodate their size and future growth plans. They were attracted to The Domain, and the Domain 1 in particular, because of the scope of development occurring in the area.”
AUSTIN, TX—During the second quarter, citywide industrial vacancy hit 6.7%, the lowest in almost two decades, with a citywide warehouse vacancy of 5.1%. And, three submarkets have vacancy under 3%, says CBRE in its Austin industrial market report. Since the first quarter of 2014, warehouse NNN rates have increased by 24.5%, while flex rates have increased by 31.6%, says CBRE.
Four new industrial construction projects broke ground in the Southeast submarket, bringing the marketwide under construction total to 1.04 million square feet. Warehouse product led industrial absorption in the second quarter with 167,260 square feet. Among the newest lease activity to contribute to the industrial score card are two lease renewals and one new lease.
Goodman Manufacturing Company LP has renewed its distribution warehouse lease for 33,900 square feet at Stonehollow A located at 11700 Stonehollow Dr. Goodman, a member of the Daikin group, designs, engineers and manufactures residential air conditioning and heating products. Anthony Fritsche of Fritsche Anderson Realty Partners and Leigh Ellis of AQUILA Commercial represented Goodman. Jordan Walker and Andy Thomas with HPI represented the landlord.
Getagadget has renewed its 30,600 square foot lease at Montopolis Distribution Center building one located at 6406
Aristocrat Technologies has signed a 24,412-square-foot lease at Domain 1 located at 11801 Domain Blvd. Aristocrat Technologies is an ASX100-listed company and an international provider of gaming solutions, based out of Australia. Matt Wilhite, Jon Wheless and Max McDonald of AQUILA Commercial represented Aristocrat Technologies and Jonathan Tate with Endeavor Real Estate Group represented the landlord.
Wheless tells GlobeSt.com: “Aristocrat Technologies has grown significantly since signing their original lease here in Austin. We were excited to assist them in securing a new space that will accommodate their size and future growth plans. They were attracted to The Domain, and the Domain 1 in particular, because of the scope of development occurring in the area.”
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