- I-20 West/Fulton Industrial experienced its first negative period of absorption in over a year in Q1. CH Robinson’s 134,400 square foot move-out was the largest vacancy to hit the market this quarter.
- The negative quarter raised the submarket’s overall vacancy rate to 5.4%. This is still below the rate from this time last year.
- Most of the move-out activity occurred in the Fulton Industrial area of the submarket. The I-20 West area remained positive this quarter and also witnessed the majority of new leasing activity.
- The increase in rental rates has begun to flatten somewhat over the past few quarters. As newer space continues to hit the market here, it is expected rents will move further upwards.
- In spite of the slow start to the year, I-20 West/Fulton Industrial will begin seeing occupancy gains pick up more beginning next quarter. Broadrange Logistics and J.J. Haines will be the submarket’s largest move-ins in second quarter.