June 14, 2017
Connect Industrial is heading to Chicago, June 28th. Here’s where to get more details and register.
The Houston industrial construction pipeline stands at 4.3 million square feet, with roughly 29% available for lease. NAI Partners June 2017 market report notes that Houston experienced 7.6 million square feet of leasing activity so far this year, encompassing 560 transactions.
Net absorption for the overall industrial market is at 2.7 million square feet, year-to-date. By comparison in 2016, total net absorption was 10.3 million square feet. The 11.3 million square feet of direct space absorption has been more than enough to balance the negative one million square feet from sublease space.
Land is being cleared for one of the Houston area’s biggest warehouses and job-growth projects so far in 2017, the one-million-square-foot Amazon distribution center in Katy.
The Port of Houston continues to thrive, handling nearly 13 million tons of cargo for the year, an increase of 9% over last year. Total container volumes have grown by 12%.