Cbre Group Inc · NYSE:CBRE
Cbre — Q2 2026 Earnings Presentation
13 slides from Cbre's earnings presentation, 2026
Slide 1: Net absorption rebounds as large deals drive market activity
FIGURES | TEXAS INDUSTRIAL | Q2 2026 FIGURES | TEXAS INDUSTRIAL | Q2 2026 Net absorption rebounds as large deals drive market activity. 8.6% 57.0M 15.1M 20.1M Total Vacancy Rate (Q) SF Under Construction SF Delivered (Q) SF of Net Absorption (Q) Note: Arrows indicate change from previous quarter. Ma
Slide 2: Net absorption pushes past cycle trend, vacancy dips
FIGURES | TEXAS INDUSTRIAL | Q2 2026 TEXAS INDUSTRIAL Completions & Net Absorption (MSF) Net absorption 36 Vacancy Rate 10% pushes past cycle 32 9% trend, vacancy dips 28 8% 7% Net absorption saw a resurgence in Q2 2026, 24 outpacing new supply and posting 20.1 million 6% sq. ft., the largest figure
Slide 3: New product keeps vacancy elevated
FIGURES | TEXAS INDUSTRIAL | Q2 2026 TEXAS INDUSTRIAL Vacancy (%) in new construction defined as space delivered 2021 or later New product keeps 10.0% vacancy elevated 9.0% 8.0% 7.0% New The overall vacancy rate for the Texas construction Industrial market has risen in recent years, 6.0% vacancy dri
Slide 4: Construction starts steadying
FIGURES | TEXAS INDUSTRIAL | Q2 2026 TEXAS INDUSTRIAL New Construction Stars (MSF) Construction starts 45 steadying 40 35 12.3 million sq. ft. of new construction started 30 in Q2 2026, flat quarter -over-quarter and down 3.9 million sq. ft. year -over-year. The 25 total amount of space under constr
Slide 5: Under construction, pre-committed space increases
FIGURES | TEXAS INDUSTRIAL | Q2 2026 TEXAS INDUSTRIAL Under construction, Under Construction and Pre-committed Under Construction (MSF) 160 Preleased 40% pre-committed 33.8% 140 35% space increases 28.3% 120 30% The Dallas/Fort Worth, San Antonio, and El Paso markets saw a quarter -over-quarter 100
Slide 6: New Leasing
FIGURES | TEXAS INDUSTRIAL | Q2 2026 TEXAS INDUSTRIAL Share of New Leasing Activity 30% New Leasing 25% 20% Leases between 400,000 to 800,000 sq. ft. accounted for the largest share of total year - to-date Q2 2026 activity, capturing 29% of 15% deal volume based on total sq. ft. Leases between 200K
Slide 7: Strong activity continues into mid-year
FIGURES | TEXAS INDUSTRIAL | Q2 2026 TEXAS INDUSTRIAL Strong activity Leasing activity (MSF) 13 continues into 12 mid-year 11 10 9 Year-to-date leasing activity improved compared to mid-year activity reported for 8 the previous two years. Activity was up 9.3 7 million sq. ft. compared to mid -year 2
Slide 8: Renewals share of total leasing returns to average
FIGURES | TEXAS INDUSTRIAL | Q2 2026 TEXAS INDUSTRIAL Renewals share of Share of Leasing Activity 40% total leasing returns 35% to average 30% About 75 renewals totaling 7.3 million sq. ft. with an average size of 98,000 sq. ft. were 25% signed in Q2 2026. Just under 75 renewals with a total of 5.9
Slide 9: Year-1 taking rents
FIGURES | TEXAS INDUSTRIAL | Q2 2026 TEXAS INDUSTRIAL Year-1 taking $/SF/NNN 13.00 rents 12.00 11.00 Taking rents saw a year-over-year dip of 10.00 3.4%, or $0.28 per sq. ft. This decline can be partially attributed to the 2.1%, or $0.28 per sq. ft. per year, decline in year -1 taking rents 9.00 for
Slide 10: Vacancy decreases for largest building tranches
FIGURES | TEXAS INDUSTRIAL | Q2 2026 TEXAS INDUSTRIAL Vacancy decreases Vacancy Rate 14% for largest building 11.8% 12% 11.4% tranches 11.3% 11.4% 10% 9.4% Year-over-year, vacancy rates for buildings 8.7% 8.6% between 400,000 sq. ft. and 800,000 sq. ft. 7.9% 7.9% 8% 7.5% and over 800,000 sq. ft. eac
Slide 11: Available sublease space remains elevated
FIGURES | TEXAS INDUSTRIAL | Q2 2026 TEXAS INDUSTRIAL Available sublease Available sublease space (MSF) 30 space remains elevated 25 +8.4 msf 20 Available sublease space often grows amid difficult economic times, can be brought on +3.3 msf by tenants reassessing space needs following rapid expansion
Slide 12: Statistical Snapshot Q2 2026
FIGURES | TEXAS INDUSTRIAL | Q2 2026 TEXAS INDUSTRIAL Statistical Snapshot Q2 2026 Total Vacancy Q2 2026 Under Q2 2026 Market Rate Net Absorption Construction Deliveries (%) (SF) (SF) (SF) Dallas/Fort Worth 8.3% 9.9 M 24.0 M 6.8 M Houston 6.7% 7.0 M 17.7 M 5.7 M San Antonio 10.3% 252 K 2.9 M 0 Austi
Slide 13: Contacts
Contacts TEXAS OFFICES Matt Munn Kim Thaker Longoria Jeremy Bock Austin Fort Worth Field Research Analyst Sr. Field Research Analyst Field Research Manager 500 W 2nd St, Suite 1700 301 Commerce St, Suite 700 matt.munn@cbre.com kim.thaker@cbre.com jeremy.bock@cbre.com Austin, TX 78701 Fort Worth, TX