The Austin industrial market remains strong after a record-breaking 2022, displaying sustained demand for industrial properties in the city. In the first quarter of 2023, there was over a million square feet of positive net absorption, which is an indicator of continued market interest, according to CBRE’s latest market update. Developers have contributed 1.7 million square feet of new industrial space to the market in the first quarter of 2023. This growth has driven occupiers to industrial submarkets in the north and south of Austin. Key factors propelling the industrial market include consumer goods, ecommerce, and manufacturing related to Tesla’s ten million-square-foot Gigafactory. CBRE reports a decrease in asking rents but an increase in leasing activity, and local developers are addressing the nationwide industrial demand with 16 million square feet scheduled for delivery by year-end. For your [Austin Home Search](https://austin.localteam.ai/austin-home-search/), check our listings to find the perfect property. Planning on relocating to Austin? Visit our [Austin Relocation Guide](https://austin.localteam.ai/moving-to-austin-texas-the-ultimate-relocation-guide/) for a seamless move. Find the value of your current home with our [Home Valuation tool](https://austin.localteam.ai/what-is-my-home-worth/). Original article: [CBRE: Austin industrial still strong after record year](https://www.recenter.tamu.edu/news/newstalk-texas/?Item=29115)
“Grab Your Breakfast Taco and Brace for Surprise Showers: Austin’s November 17th Weather and Real Estate Insights!”
Discover the essence of Austin with today's diverse weather forecast promising sunshine and showers, perfect for any adventure in the city. While development news might be on the quieter side, the vibrant pulse of Austin ensures there's always something new on the horizon. Dive deeper into the Austin Local Team's insights, offering unparalleled guidance in the real estate market with resources that could lead you to your dream home. Click to explore the full scope of what makes Austin uniquely irresistible.
Austin Local Team | Nov 17, 2024 | 2 min read
