NAI Partners’ most recent survey of Houston Industrial activity indicated that move-ins minus move-outs (net absorption) is up 127% year-over-year. May 2022 marks the second-highest amount of leasing activity and highest net absorption in January through May on record.
Vacancy rates are down to 5.8%, down from the 8.5% at the same time last year. Houston-area triple-net rents are at $0.71 per square foot, up from $0.64 last year, an 11% increase.
Port Houston’s container volume was up 21% from the previous year. The port just initiated a $1 billion dredging program to increase the types of ships that can use the channel. That’s expected to have a significant effect on future industrial park activity.