Traditionally, there’s been plenty of warehouse space in Austin, TX. However, after reading an article posted by the Austin Business Journal on the industrial market in Austin, I thought it would be good to share with Austin business owners that the market is getting smaller as positive absorption increases. According to the article by ABJ, warehouse-distribution and research and distribution-flex space saw 154,509 and 88,338 square feet of positive net absorption, respectively, while the general property sector saw 33,472 square feet of negative net absorption (source: Grubb & Ellis Q2 report). The north Austin market had the most activity with major deals like the Texas Department of Transportation and Floor Kings renting warehouse space. However, they continue to say that it will be a tenant’s market for the next 1-2 years so now’s the time to lease if you’ve been looking for warehouse space.
Are you still unsure if office space or warehouse space is right for your business? Read our recent blog post that shares Five Reasons Why Warehouse Space Might be Right for Your Business. Here’s a quick summary of the top five reasons:
2. Lower Lease Rates
3. More Space
4. Designated Shipping Destination
5. Loading & Unloading Products
If you’ve been thinking about leasing warehouse space, now is the time to look for space before the available space decreases and lease rates potentially increase. Contact Austin Tenant Advisors today to find the warehouse space that meets your needs.