HOUSTON – Second quarter 2022 marked the fifth consecutive quarter that demand for local industrial space outpaced supply, a streak not seen since 4Q2012.
The latest market report from NAI Partners showed a net absorption of seven million sf and a supply of 3.4 million sf.
Leasing was also strong again, with Houston recording its seventh quarter of more than ten million sf of activity.
The quarterly average leasing activity for the five years before the current run was 7.6 million sf.
With 6.2 million sf delivered in the first half of 2022, 22 million sf under construction, and an additional 4.4 million sf proposed through 2022, NAI projects demand for industrial real estate may continue to outpace supply.