Houston industrial market overview: Commercial GatewayHouston industrial market overview: Commercial Gatewayhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=91832012-10-30T06:44:00Z2012-10-30T00:00:00Z

HOUSTON - Commercial Gateway, the Commercial Division of Houston Association of Realtors, has released its Quarterly Market Overview for Houston’s industrial market for third quarter 2012.

Vacancy overall is down to 7.1 percent, compared to 7.9 percent a year ago.

Net absorption in 3Q 2012 totaled 1.4 million sf. Year-to-date absorption of 4.2 million sf is slightly less than total 2011’s annual absorption of 4.5 million sf.

Warehouse/distribution properties recorded 991,664 sf in 3Q 2012, accounting for 69.1 percent of all absorption this quarter. Properties classified as warehouse/distribution represent about 72.4 percent of the total market.

Rental rates have increased marginally during the last four quarters, with this quarter’s quoted weighted average annual rental rate of $5.63 per sf, higher than the $5.44 rate recorded a year ago.

Currently, 35 buildings in 28 projects totaling about 3.2 million sf are under construction, with 18 of those projects ranging in size from 10,000 to 57,000 sf.

Properties classified as manufacturing are reporting the lowest vacancy rate of 5.1 percent. Only six projects, totaling 190,991 sf, are classified as manufacturing.

Of 28 projects, ten will be completed in 2012, with the remainder slated for completion in first half 2013. About 38 projects totaling 2.1 million sf were completed in the first three quarters 2012.

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Houston-The Woodlands-Sugar Land
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