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LIVE BRIEF Sep 14, 2026

Industrial · Texas

Texas industrial market firms up as DFW leads demand and development

Texas industrial conditions are improving, with vacancy generally edging down in Dallas-Fort Worth and San Antonio while Austin remains elevated; DFW vacancy was reported at 8.1% and has fallen from prior-cycle highs.[12][9][10] Rents are still rising, led by DFW small-bay asking rent at $11.64 NNN and Austin quoted lease rates at $15.08 in Q2 2026, while cap rates in core North Texas logistics have compressed to the high-4% to low-5% range.[7][10][11]

Dallas-Fort Worth: 8.1% vacancy; tightest demand
Houston: Stable demand, cap rates mid-5s
Austin: 13.8% vacancy; rents still firm
San Antonio: 11.3% vacancy; absorption improved

5 sources

U.S. CRE Price Index

-7.01

+133.14% QoQ

Baa – 10Y Credit Spread

1.50%

-1 bps

10Y Treasury Yield

4.96%

-34.2% YoY CRE

30Y Mortgage Rate

6.76%

+5 bps WoW

Coverage Universe

Three sectors. One consistent framework.

Retail, office, and industrial — scored on the same eight fundamentals: supply, demand, rent, vacancy, cap rate, spread, liquidity, and credit. Market-level trends and detailed individual property assessments, side by side.

Indicative cap-rate bands · 10Y UST + sector risk premium

01Retail
6.96% – 8.46%
02Office
7.96% – 9.96%
03Industrial
6.46% – 7.71%