El Paso Industrial MarketView Q4 2017
- The local market saw positive net absorption during Q4 2017 and total annual 2017 net absorption was 338,000 sq. ft. higher than 2016.
- The vacancy rate remained flat quarter-over-quarter but decreased by 130 basis points year-over-year.
- Asking rents fell slightly due to Class B activity. The market average decreased by $0.05 per sq. ft. compared to Q3 2017 while Class A rents increased by $0.05 per sq. ft.
- Two new build-to-suit (BTS) projects, totaling 332,000 sq. ft., broke ground in Q4 2017. Total BTS space under construction was almost 500,000 sq. ft. at the end of 2017.