Texas Industrial Figures Q1 2023

April 28, 2023 10 Minute Read

El Paso Desert

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  • While empty deliveries drove up the vacancy rate, absorption remained strong in Texas industrial markets.
  • The balance of absorbed space during the first quarter for the major industrial markets in Texas totaled 17.7 million sq. ft.
  • Meanwhile, deliveries totaled 34.1 million sq. ft.
  • Vacant speculative deliveries caused the vacancy rate to climb and the average vacancy rate for major Texas markets was 5.0%.
  • The lowest vacancy rate among the top industrial markets in Texas was El Paso at 1.5% while the highest vacancy rate was in Dallas/Fort Worth and was 5.8%.
  • Demand continued to be driven by 3PLs, consumer goods and suppliers to the manufacturing industry in Texas.