COSTAR GROUP
By: Adam Jarrett
May 3, 2012
The Tucson Industrial market ended the first quarter 2012 with a vacancy rate of 11.8%.
The vacancy rate was up over the previous quarter, with net absorption totaling negative 66,319 square feet in the first quarter. Vacant sublease space increased in the quarter, ending the quarter at 323,507 square feet.
Rental rates ended the first quarter at $6.27, a decrease over the previous quarter.
There was 81,000 square feet still under construction at the end of the quarter.
This trend is compared to the U.S. national industrial vacancy rate, which decreased to 9.3% from the previous quarter, with net absorption positive 30.71 million square feet in the first quarter.
The information in this news report is based on CoStar’s First Quarter 2012 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.
