Avison Young releases Second Quarter 2019 Houston Industrial Market Report30 Jul 2019
An overbuilt industrial market could be on the horizon
• Please click on link to view Houston industrial market reports, statistics and heat maps:
Houston, TX — Avison Young, the world’s fastest-growing commercial real estate services firm, today released its industrial market report for the firm’s Houston office for the second quarter of 2019. Completions during the second quarter totaled more than 5.6 million square feet (msf), nearly doubling first quarter’s 3 (msf).
The ongoing expansion in Houston’s industrial market could result in a surplus of space. However, developers remain confident as new projects are announced, noting that for the last 8 years, the vacancy rate has held steady in the 5% range.
“Although the development pipeline is at an all-time high, Houston’s economic indicators continue to bode well for the industrial market,” comments Avison Young Vice President, Grant Hortenstine. “As major distribution users continue to show interest in key Houston submarkets, the industrial market will remain healthy through 2019.”
The North, Southeast and Southwest submarkets are seeing the highest volume of activity, including the construction of the 1-msf for Coca Cola manufacturing and distribution plant at Pinto Business Park North and Katoen Natie Gulf Coast’s lease of 100,00 sf at 2902 E. 13th in Deer Park in Southeast.