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Overall vacancy is at 6.8%, up slightly from this time last year at 6.7%.


Stable vacancy rate at 6.8%. Overall vacancy is at 6.8%, up slightly from this time last year at 6.7%. The occupancy rate of the 3.9 million sq. ft. delivered to the market so far in 2020 stands at 63%, and of the 3.3 million sq. ft. under construction, 61% has been spoken for. The vacancy rate for Class A properties is at 19.8%, up from the prior period at 19.6%. The asking price for industrial properties is currently at an average monthly rate of $0.56 per sq. ft., up from this time last year at $0.51 per sq. ft. due primarily to the new product added to the market.

WDSrx expands. Pharmaceutical logistics company, Woodfield Distribution, LLC, known as WDSrx, signed a 54,000-sq.-ft. warehouse deal at 1310 Cornerway Boulevard in the Northeast submarket. The new facility location was acquired in October on a long-term lease with access to Highway 410 and I-10. Building upgrades are currently being undertaken for the handling and fulfillment of pharmaceutical drug products. Full operation is expected to commence by January 2, 2021.

Pandemic and recession haven’t slowed industrial market. Demand for industrial space increased year-over-year with 3.6 million sq. ft. of net absorption recorded during 2020 as of the end of October, compared to 2.7 million in 2019. In addition, leasing activity—which is comprised of both new leases and renewals—registered 4.9 million sq. ft. during the same time period. With consumers largely shut in for most of the year, ecommerce has been propelled, forcing retailers to play catch-up. In addition to ecommerce fueled growth, other important indicators, such as the San Antonio’s red-hot housing market, point toward continued demand for industrial space moving forward.

Leta Wauson
Director of Research
[email protected]
tel 713 275 9618

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