A new report from CommercialSearch, a Yardi Network listings site, finds a trend some Austinites might find surprising: The city ranks fifth in the nation in the number of in the first half of 2024, ordered by total square footage added to inventory.
As the many, many recent announcements of new warehouses and industrial parks indicate, "Austin’s industrial market is experiencing a surge in new facilities due to rapid population growth and economic expansion, driving strong demand for distribution and logistics,” according to the report. "The influx of technology companies and the city’s burgeoning status as a tech hub have attracted significant investments, leading to a steady pipeline of industrial projects."
As of June, Austin this year registered 62 projects totaling 8.1 million square feet of space coming online. The amount accounted for less than 4 percent of the total completions nationally, but the 18 percent drop in industrial deliveries was the smallest decline among the top five markets.
Nationally, about 209 million square feet of industrial space came online, a significant drop from the 262.3 million square feet. The leading five markets contributed more than 35 percent of all new stock nationwide—about 74.2 million square feet — according to the report.
Dallas, California’s Inland Empire, Phoenix, and Chicago ranked first through fourth on the list, respectively.
