Real Estate Market Overview 2005
El Paso
Nestled at the foot of the Franklin Mountains, the City of El Paso is bordered by Mexico on the south
and New Mexico to the north. With a 2000 population of 563,622, El Paso is the fifth largest city in
Texas. Across the Texas-Mexico border from El Paso is Juarez, with a population of 1.3 million. The
El Paso-Juarez community comprises the largest metropolitan area on the border between the United
States and Mexico. El Paso is also the home of Lee Trevino, a popular championship professional
golfer.
Quick Facts
Land Area 1,013 square miles
Population Density (2000) 670.8 people per square mile
Counties El Paso
Area Cities and Towns
Anthony, Canutillo, Clint, El Paso, Fabens, Horizon City, San Elizario, Socorro,
Tornillo
Real Estate Center Market Overview 2005
El Paso, TX
Table of Contents
Demographics ..............................................................................................3
Education .....................................................................................................7
Employment .................................................................................................8
Economy ....................................................................................................13
Infrastructure ..............................................................................................14
Public Facilities ..........................................................................................15
Multifamily ..................................................................................................16
Housing ......................................................................................................17
Retail ..........................................................................................................21
Hotel...........................................................................................................22
Office..........................................................................................................23
Industrial ....................................................................................................25
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Real Estate Center Market Overview 2005
El Paso, TX
El Paso Market Overview 2005
Demographics
El Paso MSA Population
Percent
Year Population Change
1990 591,610 1.8
1991 608,206 2.8
1992 619,138 1.8
1993 634,044 2.4
1994 646,181 1.9
1995 654,250 1.2
1996 656,482 0.3
1997 665,066 1.3
1998 671,250 0.9
1999 675,397 0.6
2000 679,622 0.6
2001 687,543 1.2
2002 693,570 0.9
2003 702,609 1.3
2004 713,126 1.5
Source: U.S. Census Bureau
Area Cities With 10,000 or More Residents
Growth 1990 - 2000
City 2000 Population (in percent)
El Paso 563,662 9.4
Socorro 27,152 18.5
Source: U.S. Census Bureau
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Real Estate Center Market Overview 2005
El Paso, TX
Texas Metropolitan Area Population Change, 1990 - 2004
1990 2004 Percent
Metropolitan Area Population Population Change
McAllen-Edinburg-Mission 383,545 658,248 71.6
Austin-San Marcos 846,227 1,412,271 66.9
Laredo 133,239 219,464 64.7
Dallas 2,676,248 3,886,553 45.2
Brownsville-Harlingen-San Benito 260,120 371,825 42.9
Brazoria County 191,707 271,130 41.4
Houston 3,321,911 4,587,092 38.1
Fort Worth-Arlington 1,361,034 1,878,334 38.0
Texas 16,986,335 22,490,022 32.4
San Antonio 1,324,749 1,722,117 30.0
Bryan-College Station 121,862 156,275 28.2
Killeen-Temple 255,299 325,398 27.5
Galveston-Texas City 217,396 271,743 25.0
Tyler 151,309 186,414 23.2
Sherman-Denison 95,019 115,933 22.0
Amarillo 187,514 227,472 21.3
El Paso 591,610 713,126 20.5
Waco 189,123 222,439 17.6
Victoria 74,361 85,777 15.4
Lubbock 222,636 251,018 12.7
Longview-Marshall 193,801 215,159 11.0
Texarkana 120,132 132,716 10.5
Corpus Christi 349,894 385,700 10.2
Odessa-Midland 225,545 244,832 8.6
Beaumont-Port Arthur 361,218 383,443 6.2
San Angelo 98,458 103,772 5.4
Wichita Falls 130,351 136,595 4.8
Abilene 119,655 125,108 4.6
Source: U.S. Census Bureau
El Paso MSA Projected Population
Texas State Data Center Texas Water Development
Year (Scenario 0.5) Board
2005 737,866 -
2010 799,936 921,780
2015 864,980 -
2020 926,760 1,082,445
Sources: Texas State Data Center and Texas Water Development Board
Household Composition
El Paso
MSA Texas
Average household size (2000) 3.18 2.74
Population younger than 18 (2000, in percent) 32.0 28.2
Population 65 and older (2000, in percent) 9.7 9.9
Source: U.S. Census Bureau
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Real Estate Center Market Overview 2005
El Paso, TX
Distribution by Race and Hispanic or Latino Origin, 2000 (in percent)
El Paso MSA Texas
White 73.9 71.0
Black 3.1 11.5
Asian 1.0 2.7
American Indian 0.8 0.6
Other 17.9 11.7
Two or more races 3.2 2.5
Hispanic (of any race) 78.2 32.0
Source: U.S. Census Bureau
Projected Population Growth, 2000 – 2020
(in percent)
El Paso 36.4 % Texas 33.8%
Source: Texas State Data Center (Scenario 0.5)
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Real Estate Center Market Overview 2005
El Paso, TX
Fort Bliss Population Profile
March 2004
Active Duty Military
Family Members, 16%
Retired Military, 27%
Active Duty Military,
13% Military Retirees
Total Civilians, 6% Family Members, 38%
Source: City of El Paso
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Real Estate Center Market Overview 2005
El Paso, TX
El Paso Market Overview 2005
Education
Educational Attainment, Persons Age 25 and Older
(in percent)
Level of Education El Paso County Texas
High school graduate 22.5 24.8
Some college, no degree 21.6 22.4
Associate's degree 5.0 5.2
Bachelor's degree 11.0 15.6
Graduate or professional degree 5.6 7.6
Source: U.S. Census Bureau, 2000
Educational Attainment, Persons Age 25 and Older
2000 (in percent)
El Paso
Level of Education MSA Texas
High School Graduate or Higher 65.8 75.7
Bachelor's Degree or Higher 16.6 23.2
Source: U.S. Census Bureau
Local College and University Enrollment
School Fall 2000 Fall 2001 Fall 2002 Fall 2003 Fall 2004
El Paso Community College 17,747 18,356 19,644 22,704 23,828
University of Texas at El Paso 15,224 16,220 17,232 18,542 18,918
Source: Texas Higher Education Coordinating Board
Local College and University Enrollment
Spring Spring Spring Spring Spring
School 2000 2001 2002 2003 2004
El Paso Community College 17,923 17,295 17,801 19,715 21,892
University of Texas at El Paso 13,698 14,197 15,333 16,476 17,514
Source: Texas Higher Education Coordinating Board
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Real Estate Center Market Overview 2005
El Paso, TX
El Paso Market Overview 2005
Employment
Top Ten Employers
Employer Sector Employees
El Paso Independent School District Education 8,663
Fort Bliss Civilian Government 6,620
Ysleta Independent School District Education 6,500
City of El Paso Government 6,264
University of Texas at El Paso Education 4,841
Socorro Independent School District Education 3,995
Sierra Providence Health Network Health care 3,761
El Paso Community College Education 3,728
Wal-Mart Retail 3,706
County of El Paso Government 2,657
Source: El Paso Office of Economic Development Oct-2004
Top Ten Private Employers
Employer Sector Employees
Sierra Providence Health Network Health care 3,761
Wal-Mart Retail 3,706
Las Palmas and Del Sol Regional Hospital Hospital 2,244
Echostar Satellite Corp. Call center 2,012
MCI/GC Services Telemarketing 1,790
West Teleservices Corp. Telemarketing 1,500
Sahara, Inc. (Nat. Cent. for Emp. of Disabled) Sheltered workshop 1,369
Big 8 Food Stores Grocery 1,220
Yazaki North America (EWD & ELCOM) Manufacturing 1,000
El Paso Electric Company Services 986
Source: El Paso Office of Economic Development Oct-2004
Top Maquiladora's in Juarez, Mexico*
Employer Origin Sector
Delphi Automotive Systems USA Automotive
Lear Corporation USA Automotive
Yazaki North America JAPAN Automotive
Philips Electronics NETHERLANDS Electronics
Thomson Consumer Electronics (RCA) USA Electronics
Sumitomo Wiring Electric Systems JAPAN Electrical
A.O. Smith Corporation USA Electrical
Cardinal Health USA Medical
Honeywell, Inc. USA Medical
Bosch Group USA Electronics
*The Juarez, Mexico list is based on all Maquiladoras in Mexico
Source: Regional Economic Development Corporation Nov-2004
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Real Estate Center Market Overview 2005
El Paso, TX
Employment Growth by Industry
El Paso MSA Texas
Employment growth 2004 (in percent) 0.1 1.3
Unemployment rate 2004 (in percent) 7.8 6.1
New jobs in 2004 300 120,600
Employment growth by sector 2004 (in percent)
Total Nonfarm 0.1 1.3
Natural Resources, Mining, and Construction 0.9 -
Natural Resources and Mining - 3.2
Construction - -1.0
Manufacturing -8.1 -0.2
Trade, Transportation and Utilities -0.7 1.2
Information -9.4 -1.1
Financial Activities -1.7 1.7
Professional and Business Services 1.8 1.7
Educational and Health Services 3.8 2.1
Leisure and Hospitality 4.7 2.1
Government 0.8 1.5
All estimates are subject to revision March-2005
Source: Bureau of Labor Statistics and Real Estate Center at Texas A&M University
Texas Metropolitan Area Employment Change, 1990-2004
1990 Percent
Metropolitan Area Employment 2004 Employment Change
McAllen-Edinburg-Mission 128,092 231,224 80.5
Austin-Round Rock 452,961 738,706 63.1
Laredo 48,588 77,898 60.3
Killeen-Temple-Fort Hood 93,215 137,634 47.7
Brownsville-Harlingen 90,534 130,457 44.1
College Station-Bryan 69,738 97,038 39.1
San Antonio 620,868 833,331 34.2
Dallas-Fort Worth-Arlington 2,163,142 2,790,815 29.0
Texas 8,071,312 10,362,982 28.4
Amarillo 96,512 122,770 27.2
Tyler 70,712 89,186 26.1
Houston-Baytown-Sugar Land 1,926,731 2,411,653 25.2
Sherman-Denison 43,644 53,651 22.9
Lubbock 110,510 134,203 21.4
Waco 86,033 104,444 21.4
Midland 51,435 61,405 19.4
Abilene 64,278 76,330 18.7
Corpus Christi 156,681 184,573 17.8
Victoria 44,880 52,847 17.8
El Paso 228,522 267,419 17.0
Longview 80,290 93,867 16.9
Wichita Falls 61,226 70,608 15.3
San Angelo 44,183 50,604 14.5
Texarkana 51,476 57,743 12.2
Odessa 52,585 57,944 10.2
Beaumont-Port Arthur 156,860 164,663 5.0
Source: Bureau of Labor Statistics and Real Estate Center at Texas A&M University
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Real Estate Center Market Overview 2005
El Paso, TX
El Paso MSA Employment
Percent Change
Year Employment Year Ago
1990 229,358 -
1991 231,681 1.0
1992 240,988 4.0
1993 248,530 3.1
1994 255,041 2.6
1995 257,100 0.8
1996 256,519 -0.2
1997 259,254 1.1
1998 261,585 0.9
1999 261,910 0.1
2000 263,922 0.8
2001 262,497 -0.5
2002 265,145 1.0
2003 269,357 1.6
2004 274,725 2.0
Source: U.S. Bureau of Labor Statistics
Employment Growth
El Paso MSA
4.5
4
3.5
% Change from Previous Year
3
2.5
2
1.5
1
0.5
0
-0.5
-1
1991
1992
1996
1997
1998
2000
2001
2002
2003
2004
1993
1994
1995
1999
Source: U.S. Bureau of Labor Statistics and Real Estate Center at Texas A&M University
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Real Estate Center Market Overview 2005
El Paso, TX
Distribution of Employment in Major Categories
3,500,000
3,000,000
2,500,000
Total Jobs
2,000,000
1,500,000
1,000,000
500,000
0
2001
2002
2003
2004
2000
Government Leis & Hospitality Educ & Hlth Serv
Prof & Bus Serv Financial Activities Information
Trade/Trans/Util Manufacturing Construction
Source: Texas Workforce Commission Feb-2005
El Paso MSA Unemployment Rate
(in percent)
14
12
10
8
6
4
2
0
1993
1994
1995
1996
1999
2000
2001
2004
1991
1992
1997
1998
2002
2003
Source: U.S. Bureau of Labor Statistics and Real Estate Center at Texas A&M University
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Real Estate Center Market Overview 2005
El Paso, TX
Fort Bliss Employment
25,000
20,000
15,000
10,000
5,000
0
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
Military Civilian
Source: City of El Paso
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Real Estate Center Market Overview 2005
El Paso, TX
El Paso Market Overview 2005
Economy
El Paso MSA Gross Retail Sales
Year Total Sales Sales per Capita
1990 $3,718,228,382 $6,285
1991 3,887,059,277 6,391
1992 4,258,148,498 6,878
1993 4,546,082,757 7,170
1994 4,939,810,275 7,645
1995 4,871,535,643 7,446
1996 5,258,414,674 8,010
1997 5,050,367,254 7,594
1998 5,309,167,256 7,909
1999 5,884,997,029 8,713
2000 6,343,535,589 9,334
2001 6,354,119,088 9,242
2002 6,655,119,764 9,595
2003 6,904,361,795 9,827
2004 7,311,014,734 10,252
State Average 2004: $14,546
Source: Texas Comptroller's Office
Fort Bliss Economic Impact
$1,200
$1,000
$800
Millions
$600
$400
$200
$0
2000 2001 2002 2003 2004*
*2004 Jan. – Sept.
Source: City of El Paso
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Real Estate Center Market Overview 2005
El Paso, TX
El Paso Market Overview 2005
Infrastructure
El Paso International Airport Activity
Airport 1999 2000 2001 2002 2003 2004
El Paso International Airport
Enplaned 1,657,517 1,688,134 1,564,380 1,449,965 1,463,976 1,612,606
Deplaned 1,647,984 1,624,585 1,527,328 1,425,751 1,446,687 1,591,800
Total 3,305,501 3,312,719 3,091,708 2,875,716 2,910,663 3,204,406
Source: El Paso International Airport
El Paso International Cargo
(units in tons)
Airport 1998 1999 2000 2001 2002 2003 2004
El Paso International Airport
Enplaned 35,316 39,073 41,697 33,594 35,075 36,556 35,912
Deplaned 47,396 56,131 55,204 46,016 51,668 45,366 46,747
Total 82,712 95,204 96,901 79,610 86,743 81,922 82,659
Source: El Paso International Airport
Border Crossings
2000 2001 2002 2003 2004
Pedestrian Crossings
Northbound 7,002,240 7,307,850 8,268,991 7,715,504 7,500,916
Southbound 5,503,418 5,504,661 6,039,402 5,411,956 5,930,117
Total 12,505,658 12,812,511 14,308,393 13,127,460 13,431,033
Vehicle Crossings
Northbound 8,981,678 8,370,987 7,572,650 7,565,603 7,621,214
Southbound 5,678,775 4,842,525 4,316,436 4,512,110 4,439,944
Total 14,660,453 13,213,512 11,889,086 12,077,713 12,061,158
Rail Crossings
Northbound* - 17,310 30,437 21,045 46,547
Southbound - - - - -
Total - 17,310 30,437 21,045 46,547
Truck Crossings**
Northbound* - 666,910 704,199 659,614 607,578
Southbound - 344,023 307,203 281,589 292,288
Total - 1,010,933 1,011,402 941,203 899,866
* November and December figures could not be gathered for 2004, thus not included in the total number.
** Includes only 2 to 6 axle loaded and unloaded commercial vehicles.
Source: Texas A&M International University, Texas Center for Border Economic and Enterprise Development
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Real Estate Center Market Overview 2005
El Paso, TX
El Paso Market Overview 2005
Public Facilities
El Paso City Public Facilities Building Permits
El Paso City Building Permit Office
15
Real Estate Center Market Overview 2005
El Paso, TX
El Paso Market Overview 2005
Multifamily
El Paso Apartment Statistics 2004
Texas Metro
El Paso Average
Average rent per square foot $0.61 $0.79
Average rent for units built since 2000 $0.69 $0.92
Average occupancy (in percent) 94.7 91.5
Average occupancy for units built since 2000 (in percent) 95.7 92.4
Source: Apartment MarketData Research Jan-2005
El Paso MSA Multifamily Building Permits
3 50 0
3 00 0
5 + F a m ily B ld g . P e rm its in
2 50 0
2 00 0
1 50 0
1 00 0
50 0
0
19 8 0
1 9 82
19 8 4
1 98 6
19 8 8
1 99 0
1 99 4
1 9 96
1 99 8
2 0 00
20 0 2
2 0 04
19 92
Source: U.S. Census Bureau and Real Estate Center at Texas A&M University
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Real Estate Center Market Overview 2005
El Paso, TX
El Paso Market Overview 2005
Housing
Housing Affordability - Fourth Quarter 2004
Percent of Households
That Can Afford Median- THAI for
Priced Home THAI* First-Time Homebuyers
El Paso 59 1.18 1.01
Texas MLS Total 50 0.99 0.91
U.S. Total 49 0.99 0.72
* The THAI is the ratio of median household income to the income required to buy the median-priced home using
currently available mortgage financing. Standard financing is a 30-year loan covering 80 percent of the cost of the
home. A THAI of 1.00 indicates that the median household income is just enough to qualify for a loan sufficient to
purchase the median-priced home.
Source: Real Estate Center at Texas A&M University
Price Distribution of MLS Homes Sold, El Paso Area, 2004
(in percent)
Price Range 1998 1999 2000 2001 2002 2003 2004
$29,999 or less 1.6 1.4 0.9 0.9 1.0 0.8 0.7
30,000 - 39,999 2.1 1.8 1.7 1.6 1.8 1.4 1.1
40,000 - 49,999 6.4 5.4 4.6 4.4 3.2 3.1 3.0
50,000 - 59,999 12.4 14.0 12.5 8.5 7.5 6.1 5.1
60,000 - 69,999 17.7 16.6 16.4 15.3 13.6 12.1 10.1
70,000 - 79,999 13.9 13.8 13.1 11.5 13.4 12.5 14.4
80,000 - 89,999 11.9 11.2 12.4 11.1 11.2 12.1 11.6
90,000 - 99,999 5.5 8.3 7.1 7.8 8.2 8.4 8.8
100,000 - 119,999 8.7 8.8 9.2 11.6 11.3 12.2 11.7
120,000 - 139,999 6.9 4.7 6.5 9.4 9.0 10.3 10.3
140,000 - 159,999 4.2 4.2 4.3 5.2 6.0 6.3 6.6
160,000 - 179,999 2.7 3.2 3.3 3.7 4.1 3.8 4.0
180,000 - 199,999 1.4 1.7 2.2 2.6 2.6 2.9 3.4
200,000 - 249,999 2.5 2.6 3.2 3.0 3.4 4.0 4.1
250,000 - 299,999 1.0 1.1 1.3 1.5 1.7 1.7 2.0
300,000 - 399,999 0.8 0.9 0.9 1.4 1.3 1.6 2.1
400,000 - 499,999 0.3 0.2 0.2 0.3 0.4 0.6 0.5
500,000 and more 0.2 0.1 0.2 0.2 0.3 0.2 0.4
Source: Real Estate Center at Texas A&M University
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Real Estate Center Market Overview 2005
El Paso, TX
Property Tax Rates, 2004:
County, Major City, Major School District
Tax Rate per $100
Taxing Entity* Valuation
City of El Paso $0.72
El Paso ISD 1.57
El Paso County 0.41
Total $2.70
* Only the typical taxing entities are listed. However, there are
numerous numbers of taxing entities that need to be taken into
account for an actual tax rate calculation.
Source: City of El Paso Tax Office
El Paso MSA Single-Family Building Permits
6,000
5,000
4,000
Units
3,000
2,000
1,000
0
1984
1986
1988
1990
1992
1994
1996
2000
2002
1982
1998
2004
Source: U.S. Census Bureau and Real Estate Center at Texas A&M University
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Real Estate Center Market Overview 2005
El Paso, TX
Home Price Appreciation
El Paso MSA*
The HPI for each geographic area is estimated using repeated observations of housing values for individual single-family
residential properties on which at least two mortgages were originated and subsequently purchased by either Freddie Mac or
Fannie Mae since January 1975.
*According to the new 2003 MSA definition, including El Paso
10%
8%
Change from Previous Year
6%
4%
2%
0%
-2%
-4%
-6%
4Q-94
4Q-96
4Q-99
4Q-00
4Q-01
4Q-02
4Q-03
4Q-04
4Q-95
4Q-97
4Q-98
El Paso Texas
Source: Office of Federal Housing Enterprise Oversight
Average Sales Price of Single-Family Home
El Paso Area
$140,000
$120,000
$100,000
$80,000
$60,000
$40,000
$20,000
$0
1992
1994
2000
1990
1996
1998
2002
2004
Source: Real Estate Center at Texas A&M University
19
Real Estate Center Market Overview 2005
El Paso, TX
Single-Family Home Sales Volume
El Paso Area
700
600
500
400
Units
300
200
100
0
Feb
Sep
May
Nov
Jan
Mar
Aug
Dec
Oct
Jun
Apr
Jul
2003 2004
Source: Real Estate Center at Texas A&M University
20
Real Estate Center Market Overview 2005
El Paso, TX
El Paso Market Overview 2005
Retail
El Paso City Retail Building Permits
El Paso City Building Permit Office
21
Real Estate Center Market Overview 2005
El Paso, TX
El Paso Market Overview 2005
Hotel
Hotel Occupancy and Rental Rates
2003* 2004
El Paso Texas El Paso Texas
# Rooms 000's 7.6 320.2 7.7 329.2
Average daily rate $56.03 $68.80 $57.83 $70.62
Occupancy rate (in percent) 61.4 54.2 65 55.2
* 2003 and later data according to new MSA definition including El Paso County
Source: Office of the Governor Economic Development and Tourism and Source Strategies,
Inc. of San Antonio
El Paso City Hotel Building Permits
El Paso City Building Permit Office
22
Real Estate Center Market Overview 2005
El Paso, TX
El Paso Market Overview 2005
Office
Office Property Statistics
1999 2000 2001 2002 2003 2004
Central Business District
Inventory 0 0 2,774,097 2,632,414 2,632,414 2,632,414
Occupancy (in percent) 0.0 0.0 65.8 62.2 57.7 58.4
Net Absorption 0 0 -312,099 -187,936 -118,519 18,003
Outside CBD
Inventory 0 0 5,140,913 5,314,913 5,457,913 5,572,913
Occupancy (in percent) 0.0 0.0 83.9 86.4 83.8 82.5
Net Absorption 0 0 -22,178 -3,290,143 -21,637 24,917
Total
Inventory 0 0 7,915,010 7,947,327 8,090,327 8,205,327
Occupancy (in percent) 0.0 0.0 77.6 78.4 75.3 74.8
Net Absorption 0 0 -334,277 -3,478,079 -140,156 42,920
Rental Range (per square foot) $9 - $15 $8 - $18 $8 - $15 $8 - $18 $8 - $18 $8 - $18
Source: Keller-Koch Realtors
Office Market Survey Year-End 2004
CBD Outside CBD
Inventory (sf) Class A Class B Class A Class B
Total 1,928,547 703,867 4,464,016 1,108,897
Occupied 1,282,025 255,367 3,813,164 783,397
Vacant 646,522 448,500 650,852 325,500
Under Construction 0 0 0 0
Net Absorption 27,478 -9,484 29,520 -4,603
Vacancy Rate (in percent) 33.50 63.72 14.58 29.35
Rental Rates ($/sf)
Lowest $11.00 $8.00 $12.00 $9.00
Highest $16.00 $11.00 $18.00 $11.00
Weighted Average $13.00 $9.00 $13.50 $10.00
Sales Prices ($/sf)
Lowest $40.00 $25.00 $50.00 $30.00
Highest $75.00 $40.00 $110.00 $50.00
Weighted Average $50.00 $35.00 $90.00 $35.00
Source: Keller-Koch Realtors
23
Real Estate Center Market Overview 2005
El Paso, TX
Office Property Statistics, El Paso Area
Occupied & Vacant Inventory, Year-End 2004
5,000,000
52
4,500,000
0,8
4,000,000
65
3,500,000
Square Feet
3,000,000
2,500,000
22
3,813,164
2,000,000
6,5
64
1,500,000
00
5,5
00
1,000,000
32
8,5
1,282,025
500,000
44
783,397
255,367
0
Class A CBD Class B CBD Class A Class B
Outside CBD Outside CBD
Occupied Vacant
Source: Keller-Koch Realtors
Office Occupancy Rate, El Paso Area
100%
90% 86
84 84 83
80%
70% 66
62
58 58
60%
50%
40%
30%
2001 2002 2003 2004
CBD Outside CBD
Source: Keller-Koch Realtors
24
Real Estate Center Market Overview 2005
El Paso, TX
El Paso Market Overview 2005
Industrial
Industrial Property Statistics, El Paso
2000 2001 2002 2003 2004
Inventory (square feet) 51,110,287 52,307,449 53,377,449 54,306,550 54,790,800
Occupancy (in percent) 91.9 89.6 85.6 84.6 87.5
Net Absorption 1,904,577 -99,974 -1,177,447 254,916 2,039,584
Rental Range (per square foot) $3.20 - $5 $3.30 - $6 $2.75 - $6 $2.75 - $6 $2.75 - $6
Source: Keller-Koch Realtors
Industrial Property Statistics, Juarez, Mexico
2002 2003 2004
Inventory (square feet) 31,999,169 48,000,000 50,014,000
Occupancy (in percent) 87.1 91.6 95.5
Net Absorption - 571,842 4,044,317
Rental Range (per square foot) - $4.25 - $6 $4.25 - $6
Source: Keller-Koch Realtors
Industrial Property Statistics, El Paso Area
Occupied & Vacant Inventory
60,000,000
33
75
88
09
53
78
59
,9
,6
,9
,2
,3
,4
9
9
5
,0
3
6
5
43
82
13
36
68
9
54
50,000,000
84
5,
4,
6,
8,
7,
3,
3,
40,000,000
30,000,000 46,970,354 47,965,112
46,867,474
20,000,000 45,943,341
45,022,707 45,691,096
10,000,000 42,525,145
0
1998 1999 2000 2001 2002 2003 2004
Occupied Vacant
Source: Keller-Koch Realtors
25
Real Estate Center Market Overview 2005
El Paso, TX
Industrial Vacancy Rate, El Paso Area
16% 15.4
14.4
14%
12.5
12%
10.4
10%
8.3 7.3 8.1
8%
6%
4%
2%
0%
1998 1999 2000 2001 2002 2003 2004
Source: Keller-Koch Realtors
26
Real Estate Center Market Overview 2005
El Paso, TX
This annual report is created free of charge by the Real Estate Center at Texas A&M
University. We strive to provide the most accurate, up-to-date, and insightful data to
paint a detailed picture of Texas’ Metropolitan Statistical Area’s. The Center also
provides numerous publications, resources, and data on building permits, employment,
population, and home sales at http://recenter.tamu.edu.
Report compiled by:
Administrative Coordinator
Edith Craig
Research Analysts
Isilay Civan
Blake Lacy
Real Estate Center, 2115 TAMU, College Station, TX 77843-2115
Phone: 979.845.2031 | Fax: 979.845.0460
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