Home > Market Updates > Houston industrial market 3Q 2010

Houston industrial market 3Q 2010

The overall Houston metro industrial vacancy rate declined to 5.7 percent in third quarter 2010, from 6.0 percent at mid-year and 6.4 percent one year ago.

The direct industrial vacancy rate is 5.5 percent in 3Q 2010, down from 5.9 percent at mid-year.

Industrial Market Highlights:

  • Net absorption: Total of 2.2 million sf in 3Q 2010, compared to 2.0 million sf in 2Q.
     

  • Vacancy rate: The direct industrial vacancy rate is 5.5 percent in 3Q 2010, down from 5.9 percent at mid-year and 6.1 percent one year ago.
     

  • Space under construction: There is 396,000 sf under construction in Metro Houston in 3Q 2010, down from 472,000 sf at mid-year and 2.1 million sf a year ago. Space under construction is 47 percent preleased, compared to 40 percent at mid-year and 71 percent one year ago.
     

  • Rents: Industrial asking rents edged up 0.6 percent in Metro Houston during 3Q 2010 as market conditions are improving, compared to a 4.7 percent decline in the first half of the year.
     

  • Investment Sales: After recording only seven investment sales during the first half 2010, the Houston industrial market saw five sales transactions during 3Q.

Houston Largest Rentable SF Statistics 3Q 2010**

Selected Submarkets

Total Rentable SF*

Vacancy Rate w/ Sublet

YTD Net Absorption SF

Northwest Near

100,751,672

5.5%

603,000

Northwest Far

56,396,711

5.7%

1,265,000

North Far

54,056,200

6.9%

796,000

Southwest Near

52,453,567

5.3%

865,000

East-Southeast Far

47,640,669

10.3%

209,000

Total**

510,052,566

5.7%

3,607,000

*Does not include buildings under construction or government-owned buildings
**Includes more than selected submarkets above

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