Quarter 4 2022 | Houston Industrial Market Report

HOUSTON - Rezul -- "Houston currently has more people working than at any time in the City's history. Texas is the #1 destination for U-Haul (net positive population growth), our medical economy is booming, energy companies are healthy and investing capital and the Port of Houston is breaking records monthly. There are plenty of things to worry about in 2023, but Houston is well positioned to ride out any national or global downturn this year. The industrial market ended a very active year with good momentum and a general slowdown from developers for speculative development other than what was already well underway. The logistics shift to the Gulf of Mexico ports (from the California ports), especially the SE Texas ports, and solid workforce bodes well for another strong year for Industrial properties in Houston. A handful of companies have had growth plans tabled and are putting some blocks of space into the sublease market, but we still expect vacancies near or below 6% for 2023."

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Patrick Duffy | President

Key Takeaways

• Leasing activity increased
• Positive net absorption
• Vacancy remained steady
• Rental rates continue to increase
• Construction volume increased

Houston Highlights

Houston's industrial market remained extremely active during Q4 with leasing velocity over 11.2 million square feet. The increase in demand for space continues to spur new development with 33.6 million square feet...

See the full report here: https://www.colliers.com/en/research/houston/q4-2022-houston-industrial