Austin Warehouse Market Q2 2019The Austin warehouse market for then 2nd quarter of 2019 shifted downwards slightly
Austin Warehouse Market Q2 2019 Report
The Austin warehouse market for Q2 2019, moved downward slightly to higher vacancies as compared to a record quarter for Q1 2019. Current vacancy rates are coming in at approx 11% , which is about 4 tenths higher than the previous quarter. Office-Warehouse space is the main property type that has the lower occupancies, with Flex warehouse property still holding strong. Lease rates for office-warehouse properties dropped approximately $0.40 cents per square foot per year
Changes in Lease Rates for Austin Warehouses moving into Q3
Lease rates as we stated earlier have moved downwards on average for the office-warehouse sector while Flex R&D space still remains strong with lease rates increasing at approx $040 cents per square foot per yr. Demand remains stable ,new properties added to the market has added to the vacancy rate increases as well.
Construction and Delivery of new properties
New construction and development fell off a bit for Q2 2019, in comparison with the previous quarters. Most of the construction and development is focused in on the South to Hays County and the Southeast area of the Austin market.
The title policy has a section called “covered risks” that is beneficial to buyers. It states that the title is vested in the person(s) or parties disclosed in Schedule A on the day the policy is issued. If a buyer has a economic loss or damage from an insured risk, the title company will pay up to the face value of the policy. However the damage or loss must happen before the policy is issued not after. Some of these important overages are:
Fraud, forgeries, duress, incompetency, incapacity, indexing of recorded documents or invalid powers of attorney.
Warehouse Market Q2 2019 Snippets
- Office-Warehouse lease rates are down approx $0.40 cent psf per yr
- Flex R&D warehouse property lease rates remain strong and have increased
- Warehouse properties below 5000SF are still very tight in select sub-markets
- Lowest Vacancy sub-markets moving into Q3 2019 are North, Northwest , Southwest and Central areas