Here is the market update for Austin Industrial space for the first quarter of 2012. Vacancy rates decreased to 10.9% in the first quarter of 2012, down from 11.3% in Q4 2011, and 12.8% this time last year. This marks the fifth consecutive quarter in which vacancy rates have trended downwards. Overall rental rates for the Austin Market rose to $6.78 sf before operating expenses (property taxes, insurance, and utilities). Rates are up from $6.72 sf in Q4 2011, but down from $6.82 sf, where they were this time last year. During Q1 2012, 72,000 sf of new industrial product was delivered to the Austin Market, along with 29,921 sf that remain under construction.
A tip to business owners: If you are thinking of options for office space but are indifferent on whether to be in a traditional office, look into FLEX space. We have seen numerous companies transform industrial space to give them the same amount of office flare as traditional office space. Better yet, FLEX space could save you 30-50% on your monthly rental budget in some cases while still meeting your office space requirements.
Listed below are some other rental rates for industrial space throughout the area. For more information on industrial space or warehouse in Austin, give us a call at 512-861-0525
Austin Average- $6.78 Austin Warehouse Average- $5.98 Austin FLEX Average – $8.72
Cedar Park- $10.90 Central- $7.76 East- $6.07 Far Northwest- $7.92 Northwest- $5.87 Round Rock- $7.34 Southwest- $10.39
