HOUSTON – The local industrial market’s overall vacancy was 7.3 percent in November 2021, down from 8.5 percent a year ago, according to NAI Partners.
This was due in large part to the unprecedented amount of net absorption that has continued to outpace the amount of space delivered. Year to date (YTD), the metro had nearly 23.6 million sf of net absorption.
Nearly 16.5 million sf of space delivered to the market YTD.
The volume of signed lease transactions YTD set an all-time record of 40.6 million sf.
The asking price for local industrial space was $0.64 per sf per month, up by one cent from November 2020.
Get more Houston-area industrial news on the Texas Real Estate Research Center’s website:
Source: NAI Partners