ALBUQUERQUE (AP) - The vacancy rate for industrial buildings such as warehouses and assembly plants In metro Albuquerque has dropped slightly.
The Albuquerque Journal reports (http://bit.ly/IDRSJC ) that the rate decreased from 10.3 percent at the end of 2011 to 10 percent in the first quarter of this year.
Grubb & Ellis New Mexico industrial market research says the last time the vacancy rate was in double digits was the second half of 2010, when it reached 10.4 percent.
Experts say the industrial real estate market, as with real estate in general, will not see a recovery until the broader economy gains traction and begins to move forward.
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