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 Source: NAI REOC Austin According to the survey of more than 37.2 million square feet of industrial space, new leases and expansions generated a healthy 465,975 square feet of positive net absorption in the fourth quarter. The gain was more than enough to push the year-end total above 1.1 million square feet – a feat not accomplished in the local market since 2007. …Read Entire Post  Industrial real estate may not grab headlines, but the sector has recovered slowly throughout 2011 and insiders expect the trend to continue in 2012 and beyond. Industrial’s recovery is uneven, however, with larger distribution markets experiencing strong growth while outlying markets have higher vacancy rates and are drawing less interest. Large institutional owners will remain active in primary markets – the East and West Coasts, Texas and Chicago– while value-add investors and private equity firms may dip into second-tier markets. When it comes to leasing, as on the investment side, activity has been strongest in core markets. Click to read full article: Investors keep buying industrial real estate…expect a big 2012 (REDNews, 12-31-11) Excerpts from November 30, 2011 article in The Oakstone / LAX Morning Minute.  Source: NAI REOC Austin Activity within Austin’s industrial leasing market supported a slowed but sustained recovery in the third quarter. Although the market is anxious to report big numbers confirmed that new industrial leases and expansions that commenced between the beginning of July and the end of September generated 63,786 square feet of positive net absorption. The pace of absorption slowed compared to last quarter’s impressive 532,993 square feet but the industrial market continues to move in the right direction evidenced by improvement in key market indicators. …Read Entire Post  Kelly Trade Center I After 28 years at 900 Shelby Lane in South Austin, Josco Products, will move to a new 18,300 square foot space at 6110 Trade Center Drive in East Austin. Click to read full article After 28 years, Josco Products moving to new site (Austin Business Journal, 8-9-11) The U.S. industrial real estate market continued to improve during the second quarter of this year even as the economic recovery lost momentum. The industrial market posted strong leasing activity, declining vacancies and diminished supply, which CoStar analysts said should set the stage for an acceleration in net absorption and rising rents in upcoming quarters. The U.S industrial vacancy rate fell to a two-year low of 9.8%, down significantly from 10.4% a year ago, while most other indicators improved marked in the second quarter, according to CoStar Group Inc.’s Mid-Year 2011 Industrial Outlook and Review. Click to read the full article U.S. Warehouse Demand Resilient in Face of Slowing Economy (CoStar, 8-3-11)  Source: NAI REOC Austin Austin’s industrial leasing market, totaling nearly 37.3 million square feet, has seemingly turned a corner and is headed in the right direction. …Read Entire Post
 Wells Point One Scotts Lawn Care recently renewed 8,529 square feet of industrial flex space at Wells Point One located at 1007 S. Heatherwilde in Pflugerville, Texas. Mark Milstead of NAI REOC Austin represented the owner.  9207-9301 Johnny Morris Rd. Mark Milstead of NAI REOC Austin represented Travis County in its sale of three small commercial buildings totaling 12,366 square feet situated on 10.59 acres located at 9207 – 9301 Johnny Morris Road near Old Manor Road. The buyer was recycler Balcones Resources.  Cameron Business Park 2 Rob Eaves of NAI REOC Austin represented Alcolock TX in their lease of 2,721 square feet of office/warehouse space to serve as their headquarters facility in Cameron Business Park 2 located at 9701 Dessau Road in Austin, Travis County, Texas. Alcolock TX installs ignition interlock devices. Lawrence O’Connor of HPI represented the owner. |
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