Avison Young releases Second-Quarter 2020 Houston Industrial Market Report6 Jul 2020
Warehouse and distribution space accounted for 96% of direct net absorption
Houston, TX — Avison Young today released its industrial market report for the firm’s Houston office for the second quarter of 2020. The industrial sector continues to outperform other commercial real estate segments during disruptive economic conditions.
“Online shopping bodes well for Houston’s industrial market and there’s been a lot of clicking, ordering and delivering going on during the last few months,” commented Drew Coupe, a Vice President in the firm’s Houston office specializing in industrial tenant representation. “It’s no surprise that national discount retailers such as Dollar Tree and Ross continue to build and expand distribution facilities as the economy slowly gets back on track.”
Deliveries slowed during second quarter with all new 2020 deliveries collectively 38.3% leased. Availability is up slightly from last quarter’s 10.9% to 12.2% this quarter and Houston’s construction pipeline remains steady with 16.7 million square feet (msf) in 85 buildings.
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 108 offices in 14 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.