Houston is Tops – in Industrial Space
Though the Houston metro has been battered by the energy downturn and Hurricane Harvey, it has taken top honors in one scenario. According to data recently released from Yardi Matrix, the Bayou City has added the largest amount of industrial space within the past 10 years. Yardi indicated that the metro added 153 properties, totaling more than 32.5 million square feet, in the past decade.
An article in Commercial Café noted that the demand is being boosted by e-commerce, which is, more and more, demanding more strategically placed distribution centers to meet consumer demand, especially for last-mile deliveries.
A Q3 2017 report issued by Colliers International also indicated that the average vacancy rate for industrial product in Houston over the past several years hovered between 5.3%-5.5%. “Companies like Amazon, DHL and FedEx are just some of the tenants in the market leasing or building distribution and logistics hubs,” the report added.
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