Figures
El Paso Industrial Figures Q4 2024
January 10, 2025 10 Minute Read
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- Q4 2024 closed with negative 5,172 net absorption, the second negative quarter recorded for the El Paso Industrial Market since Q2 2016. Annual net absorption was 1,447,583 sq. ft.
- Annual gross absorption for 2024 was 4.5 million sq. ft., 785,000 sq. ft. higher than 2023.
- The market-wide vacancy rate increased by 120 basis points and the Class A vacancy rate increased by 200 basis points.
- Almost 4.0 million sq. ft. of industrial space, of which 3.8 million sq. ft. is speculative, remained under construction at the end of Q4 2024.