X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

AUSTIN-Traffic at Austin-Bergstrom International Airport isn’t providing much incentive for traffic at industrial properties in the southeast submarket around the airport. Cargo and passenger traffic continued to drop in August, indicating that the Austin economy has yet to find its legs.

The southeast industrial submarket has the second highest vacancy rate, 20%, in the city. For the year, there’s been negative absorption of 299,463 sf of industrial space in that submarket.

Cargo traffic at the airport dropped 2.4% for August 2002 from August 2001. This year’s August total shipped through Austin was 25.3 million pounds. For the first eight months of the year, cargo traffic was off 18% from the same period in 2001. International air cargo shipments in August fell 33% from August 2001 and 46% year-to-date. Passenger traffic also continued to drop, down 12.8% from August 2001 to August 2002 and down 12.3% year-to-date.

Airport traffic began its decline about year ago after the Sept. 11 attacks and halt in air traffics. Through August 2001, air cargo traffic had increased 1% over 2000, international air cargo was up 48% and passenger traffic was up1.7%.

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

Once you are an ALM digital member, you’ll receive:

  • 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

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.