Avison Young releases Fourth Quarter 2019 Houston Industrial Market Report2 Jan 2020
Business parks sprout up in Houston outskirts
Please click on links to view Houston Q4 2019 industrial market report, statistics and heat maps
Houston, TX — Avison Young today released its industrial market report for the firm’s Houston office for the fourth quarter of 2019. The industrial sector remains the strongest asset class in Houston with 32 projects delivered for the last quarter of 2019 totaling 4 million square feet (msf).
“Industrial business parks are popping up in the outskirts of Houston due primarily to higher land prices within the city, commented Grant Hortenstine, a Vice President in the firm’s Houston office. “A lot of these projects are currently under construction and more are on the way.”
The under-construction total climbed to 19.1 msf in the fourth quarter, up from 16.2 msf reported in the previous quarter. Warehouse and distribution facilities represent 90% of the under-construction projects. For the last six years, Houston has boasted an average 14 msf of construction, making it one of the top dominant markets for industrial supply in the U.S.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises approximately 5,000 real estate professionals in 120 offices in 20 countries. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.
Avison Young is a 2019 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for eight consecutive years.