All tagged Industrial Market
The 1st Quarter 2015 Office and Industrial Forecast Reports are available and ready for download.
- At first glance the office market looked like it was a flat quarter with vacancy holding steady at 20.5 percent. The encouraging aspect is how it overcame a very large amount of space that became vacant.
- After a banner year in 2014 the industrial market stumbled out of the gate as a handful of large available spaces vacated during the quarter. Vacancy increased slightly rising 20 basis points from the fourth quarter of 2014.
The industrial market had a notable year. Vacancy declined 270 basis points from the first quarter of 2014 and nearly one million square feet of space was absorbed. It has been seven years since this level of absorption last occurred. Comparing to 2013, the total space absorbed increased by 66 percent or 382,410 square feet.
Albuquerque Industrial Market Update
Compared to the previous quarter’s stellar success the third quarter managed to post more modest results. Several large moves carried the quarter and prevented it up from being flat. Vacancy dropped 70 basis points. The biggest move was done by Southern Wine & Spirits who occupied nearly 188,000 square feet of warehouse and distribution space in the North Valley. This was an expansion that more than doubled the amount of space they were leasing Downtown.