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Home » CBRE Research: Houston industrial vacancy declines, tightening expected through year-end
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CBRE Research: Houston industrial vacancy declines, tightening expected through year-end

October 6, 2017
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CBRE has released the Q3 2017 Houston Industrial MarketView, which is available for download at cbre.com/research. Below is a summary of key Q3 highlights.

Demand rises, vacant sq. ft. falls: net occupier demand increased quarter-over-quarter to 2.5 million sq. ft. The North and Southeast submarkets saw the heaviest activity, each clocking over 1 million sq. ft. of net absorption.

Vacancy declines as 3.0 million sq. ft. delivers: deliveries for the quarter added over 3.0 million sq. ft. to the market, of which 83% was delivered pre-leased. Despite the delivery of over 500,000 sq. ft. of vacant space, overall vacant square footage declined over the previous quarter, with vacancy rates falling by 10 basis points (bps).

Ground broken doubles: under construction volume expanded modestly as almost 3.1 million sq. ft. of new projects broke ground. The Southeast and Northwest captured the majority of this activity, with a notable uptick in spec project starts.

Post-storm market expected to tighten: Houston's industrial product was minimally impacted, given the location and retention requirements of institutional class product. Isolated instances of flooding in primarily grade-level product did occur, but the vast majority of Houston's non-residential property types weathered the storm largely unscathed.

To learn more about CBRE Research, or to access additional research reports, please visit the Global Research Gateway at www.cbre.com/research.

More Info: http://www.cbre.com/research

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