NAI: Houston industrial construction 'still robust' despite summer slowdownNAI: Houston industrial construction 'still robust' despite summer slowdownhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=180892017-10-17T05:00:00Z2017-10-17T15:00:00Z

​​​​​​​​HOUSTON – Local industrial construction slowed down over the summer, but by the end of the third quarter it was holding steady, reports NAI Partners.

The market had 4.86 million sf of new construction in the works at the end of the quarter, up slightly from the second quarter (4.5 million sf) but down significantly from a year ago (9.67 million sf).

More than 2.5 million sf of new space was delivered during the third quarter, up from the previous quarter's 1.56 million sf but a big drop from last year's 6.29 million sf.

​​The city had an overall industrial vacancy rate of 5.4 percent at the end of the third quarter, a decrease of 20 basis points quarter-over-quarter and an increase of 20 basis points year-over-year.

Net absorption finished the quarter at positive 2.99 million sf, up from negative 67,870 sf in the second quarter, tallying close to 6.5 million sf year-to-date.

Both the Houston metro’s overall rent and leasing activity are down from last quarter, with the difference larger than a year ago.​

NAI Partners
Houston-The Woodlands-Sugar Land
http://www.naipartners.com/research/houston-industrial-q3-2017-quarterly-market-report/Read more at {Source}

 Search NewsTalk Texas