Figures

Laredo Industrial Figures Q1 2024

May 8, 2024 5 Minute Read

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  • Industrial vacancy climbed to 3.8% in the first quarter, driven almost entirely by three speculative developments in the Northwest submarket delivering unleased; vacancy remains significantly below the statewide rate of 8.1%.
  • Laredo recorded 704,774 sq. ft. of positive net absorption in Q1 2023.
  • Asking rates continued to rise steadily, increasing by 2.0% to a marketwide average of $9.80 per sq. ft.
  • Eight projects totaling 1,563,418 SF delivered in Q1; deliveries were 61.0% pre-leased.
  • Laredo remains the No. 1 port in the nation after surpassing the Port of Los Angeles in November 2023, responsible for 6.3% ($26 Billion USD) of U.S. trade, according to U.S. Census Data.