AUSTIN--Austin's industrial market continues to progress with rental rates rising yet again in the second quarter, according to a new report from Colliers International.

The citywide average quoted rental rate increased by 1.6 percent between quarters from $8.21 to $8.34 per square foot, and increased 18.5 percent on a year-to-year basis from $7.04 per square foot.

"It's been great to see all of the recent leasing at Expo Center in the southeast submarket,” Travis Hicks, vice president/industrial in Colliers' Austin office, told GlobeSt.com, referring to Kendra Scott taking 64,800 square feet at the new Expo 11, and Novitex taking 122,400 square feet at Expo 8. “With all of the activity and pending deals we see in the market right now, I think we'll see the other big blocks of space lease up very soon as well, leaving little to zero 60,000 square feet to 120,000 square feet spaces remaining in the southeast submarket."