MARKETS:
Industrial
Industrial rents will continue to rise, though at a much slower pace than the recent 9% rent growth in the past years.
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Vacancy is
above
the national average at 8.5% versus the U.S.'s 6.25%, but when broken down across product type flex and specialized beat the national average at 6% and 3.5% respectively.
Vacancy is largely driven by large users pulling out of San Antonio and the glut of new construction coming online, however, the market's growth is keeping it in check. Sales have cooled, keeping cap rates high which is projected to run until the end of 2025 when they will begin a period of contraction.