HOUSTON – The local industrial market's overall vacancy was 7.5 percent in March 2020, up from 6 percent a year ago, according to NAI Partners.
This was due in large part to the 17.4 million sf delivered to the market during the last 12 months with an occupancy rate of 42 percent.
Of the record-breaking 25.3 million sf currently under construction, 61 percent of that space is available for lease.
The asking price for local industrial space was $0.62 per sf per monthly, up from March 2019's monthly rate of $0.60 per sf.
Get more Houston-area industrial news on the Real Estate Center's website:
Source: NAI Partners
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