Houston industrial sales strong

HOUSTON – Industrial sales are up 127 percent since last year, according to a November report by NAI Partners.

So far this year, $984 million in industrial sales have been recorded. Institutional investors have accounted for 38 percent of the deals. Twelve percent of the buyers were REITs, and 10 percent were foreign investors.

NAI reports the largest transaction of the year was Pure Industrial REIT’s $63.5 million purchase of the one million-sf IKEA Distribution Center in Baytown.

Around 6.4 million sf has been absorbed year-to-date, and the current vacancy rate is 5.5 percent.