CBRE: Houston industrial 1Q 2015 review | CBRE: Houston industrial 1Q 2015 review | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=939 | 2015-05-26T12:36:00Z | 2015-05-26T00:00:00Z |
HOUSTON - Houston metropolitan statistical area logged 265 new or expanded facilities, second to Chicago metro area with 385.
A considerable amount of capacity expansion among chemical manufacturers is underway along Gulf Coast, including $18 billion in just Houston metro area.
As of first quarter 2015, southeast Houston had 1.8 million sf of industrial space under construction with 46 percent preleased, along with an average vacancy rate of 4.8 percent, the lowest since second quarter 2003.
The Greater Houston Partnership predicts an estimated loss of 9,200 energy jobs in 2015 with a total employment gain of 62,900 jobs. This would equate to roughly 2 percent job growth versus 4 percent in 2014.
Houston Industrial Market Statistics 1Q 2015*
Market |
Rentable
Area SF |
Vacancy
Rate |
1Q 2015
Net Absorption
(SF) |
Under
Construction
(SF) |
Avg. Asking
Rate
($/SF/
Year) |
Northwest |
135,237,230 |
4.1% |
406,440 |
3,411,564 |
0.79 |
North |
79,205,260 |
8.3% |
824,526 |
2,344,931 |
0.72 |
Southeast |
75,588,029 |
4.8% |
484,962 |
1,823,707 |
0.71 |
Southwest |
62,379,358 |
5.6% |
149,172 |
1,130,926 |
0.79 |
CBD |
52,898,068 |
4.4% |
185,900 |
0 |
0.55 |
Totals** |
479,778,552 |
4.9% |
1,976,139 |
8,888,503 |
0.69 |
*Ranked by market rentable area.
**Totals are based on all submarkets. Only top five of the seven submarkets are shown.
Also see Houston Market Research.
Source: CBRE
| CBRE
| Houston-The Woodlands-Sugar Land
| Industrial
| https://www.recenter.tamu.edu/Pages/market-research.aspx | | | | Read more at {Source} |