Figures

Austin Industrial Figures - Q3 2024

October 9, 2024 5 Minute Read

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  • Austin posted nearly 1.6 million sq. ft. of total net absorption in Q3 2024, which brought vacancy down 230 basis points quarter-over-quarter. However, vacancy is up year-over-year, due to new product delivering vacant.
  • This quarter, absorption was primarily driven by Tesla occupying 430,000 sq. ft. and Seoyon E-Hwa with 212,000 sq. ft.
  • Excluding owner/user facility data predominately consisting of Tesla and Samsung, Austin’s total construction pipeline comprises 10 million sq. ft., of which more than 99% of product underway is speculative distribution space.
  • 914,000 sq. ft. of new construction delivered in the third quarter, which was 9.5% pre-leased.
  • Industrial asking rents dipped 4.9% in Q3 to $12.05 market-wide.