April 7, 2020
Avison Young reported that Houston’s industrial sector remains the strongest asset class in the market, with 56 properties delivered for the first quarter of 2020 totaling 8.6 million square feet. That’s nearly double the previous quarter’s 4.5 million square feet.
“Fortunately, prior to the pandemic, Houston’s population growth, along with favorable market trends including the rise of e-commerce, helped the Bayou City become a major distribution center,” said Drew Coupe, a VP in Avison Young’s Houston office. “The industrial market has been the leading commercial real estate asset class for some time, and after this is over, will likely continue to lead all asset classes.”
The under-construction total dipped slightly to 18.9 million square feet across 96 buildings for Q1. Houston is considered one of the nation’s dominant markets for industrial supply, and has recorded an average of 14 million square feet of construction for the last six years.
Pictured: Prologis Cole Creek in Houston.
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