How strong? The streak is still alive. A recent NAI Partners research paper reports that Houston has had a positive net absorption rate for 51 straight quarters. It’s up 100% from the same quarter of 2021.
It would follow that there would interest in constructing new projects. 22 million square feet of product is currently under construction.
Rental rates have continued to rise. They are up $0.70 after Q1 2002.
One of the towns biggest drivers of business is Port Houston. The port says business remains strong with 21.6 million tons handled through the end of May.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.