EL PASO, TX–According to the latest El Paso Industrial MarketView report from CBRE, the local market set a new 13-quarter high, seeing its highest net absorption total since the first quarter of 2011. Total transactions for the quarter were 624,202 square feet, with 341,574 square feet of positive absorption. This positive net absorption comes in the wake of two quarters of negative net absorption.
CBRE's Christian Perez Giese tells GlobeSt.com, “I am surprised by the dynamics locally for supply of smaller class A space compared to larger class A space. The market for smaller spaces is much tighter than for larger spaces.”
As with most Texas markets, class A space is seeing the highest level of demand. For class A space under 100,000 square feet, the vacancy rate fell to 2.8% this quarter.
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