For the first quarter of 2022, a recent NAI Partners report showed that Houston saw the highest amount of leasing activity and net absorption in any quarter, ever. The Houston industrial market recorded 16.7 million square feet of leasing activity, while net absorption is at 10.4 million square feet. That’s up 236% year-over-year from the slower 3.1 million square feet for the first quarter in 2021, according to NAI Partners’ Leta Wauson.

Notable transactions that contributed to the record quarter included CyrusOne’s 640,000 square foot flex deal at 11000 Corporate Centre Drive; American Furniture Warehouse signed a lease for 492,000 square feet on River Plantation in Conroe; and Meiborg’s closed a deal for 392,000 square feet in Fairway Logistics Park in the North Hardy Road submarket.