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CBRE: Houston industrial 3Q 2014 reviewCBRE: Houston industrial 3Q 2014 reviewhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=27512014-10-17T12:08:00Z2014-10-17T10:59:00Z

HOUSTON - Due to the continued growth in the oil and gas industry, Houston’s industrial market continues to be one of the strongest in the nation, according to the third quarter report from CBRE.

Texas is expected to produce more oil and gas than all but one of the OPEC nations in 2014 due to the booming Eagle Ford Shale and Permian Basin, and Houston’s industrial real estate market will profit from that growing production.

The Port of Houston, thanks to the Houston Ship Channel, generates $178 billion annually, 1 million jobs and is the largest chemical port in the world.

In 2013 Houston led the nation in exports for the second consecutive year, according to data recently released by the U.S. International Trade Administration (ITA). The region shipped almost $115 billion in goods overseas, up 4.2 percent from $110.3 billion in 2012.

Houston Industrial Market Statistics 3Q 2014*
Market Rentable
Area SF
Vacancy
Rate
3Q Net
Absorption
(SF)
YTD Net
Absorption
(SF)
Under
Construction
SF
Avg. Asking
Rate
($/SF/Year)
Northwest 133,368,897 4.1% 567,638 1,412,017 3,533,164 $0.78
North 76,848,752 7.9% 518,695 1,279,973 2,032,795 $0.71
Southeast 73,994,055 7.0% 725,058 1,119,672 219,841 $0.68
Southwest 60,769,170 5.4% 166,776 329,607 121,000 $0.78
CBD 53,090,186 5.2% 94,523 227,689 0 $0.53
Total** 471,985,610 5.3% 2,615,636 5,834,743 6,069,644 $0.67

*Ranked by market rentable area.
**Totals are based on all submarkets. Only top five are shown of the seven submarkets.

Also, check out Houston Market Data Sources for more Industrial stats.

CBRE
Houston-The Woodlands-Sugar Land
Industrial
https://www.recenter.tamu.edu/Pages/market-research.aspxRead more at {Source}

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