Austin Industrial Real Estate Continues to Thrive Post-Record year

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)