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Houston hot climate for office construction: DeltaHouston hot climate for office construction: Deltahttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=61262013-10-04T08:23:00Z2013-10-04T07:05:00Z

HOUSTON - The Houston economy continues to be among the most robust in the nation, and it continues to drive the office and industrial sectors, according Delta Associates.

Delta's report indicated that the office market expanded again during third quarter 2013, with net absorption of 723,000 sf compared to 530,000 sf in 2Q 2013.

Properties under construction have nearly tripled to nearly 12 million sf compared to 3.6 million for the same period last year. In the industrial sector vacancy was at 4.3 percent, down slightly from 4.6 percent in 2012.

Office rents jumped 1 percent during through the end of September, while industrial rents dipped 0.3 percent.

The 12-month employment growth of 97,700 jobs through July 2013 is third-most in the nation among large metro areas. Houston’s payroll employment rose by 3.6 percent during the period, which was the second-largest percentage increase in the U.S. among major metros and was well above the national growth of 1.7 percent.

Read more at GlobeSt.com.

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