Houston’s economy sustains positive growth

​​​​​​​HOUSTON – NAI Partners has released its 3Q 2018 Houston Industrial Market Report. Here are the high​lights. ​​

Vacancy increases slightly as development booms.

• Overall industrial vacancy rate grew to 5.7 percent in third quater 2018, an increase of 40 basis points qua​rter over quarter, and 50 basis points year o​v​er year.

• Net absorption was positive 1.8 million sf, rising 152.3 percent over last quarter at 733,000 sf.

• New construction delivered during the third quarter stood at 4.5 million sf—a level not seen since a record-breaking 6.4 million sf in third quarter 2016.

Houston’s economy continues to grow at a healthy pace.

• Houston employment grew 3.8 percent over the three months ending in August, led by a surge in construction (13,600 jobs).

Port Houston jumps to top five U.S. container ports.

• During the first six months of 2018, Port Houston imports from the Trans-Pacific region increased by 24 percent, a significant jump compared to overall U.S. Trans-Pacific imports, which increased by 5 percent.