NAI: Bayou City industrial construction surges

​​​​​HOUSTON – According to NAI Partners’ "2Q 2018 Houston Industrial Market Report," regional industrial development has reached levels since 2015.​

Development soars as vacancy increases marginally

• Houston’s overall industrial vacancy rate grew to 5.4 percent in 2Q 2018, an increase of 20 basis points over the quarter. 

• The development pipeline is at levels not seen in over two years—12.4 million sf, compared to the all-time recorded high of 15 million sf in 2Q 2015. 

Houston industrial and economic indicators reflect positive outlook

• In May 2018, a landmark 3.1 million workers were on payrolls throughout the region, according to the Texas Workforce Commission. ​

• Houston’s unadjusted unemployment rate was 4.2 percent in May 2018, down from 4.8 percent in May 2017.