The overall industrial vacancy rate is 5.2%, while R&D/flexspace is only at 3.2%. Standard industrial buildings show a 6.5%vacancy rate.
The market, which is benefiting from brisk sales, needs moresupply. Developers are responding with 360,000 sf underconstruction, Grubb & Ellis notes.
Albuquerque is small, but growth is fueled by some of thenation's top scientists at the Sandia National Labs.
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