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Follow on Google News | Houston Industrial Market Report Q4 2021Despite adding approximately 25 million square feet of new industrial space in 2021, the market took it in stride and managed to absorb a record 28.5 million feet and drive the vacancy rate down to 7.1%.
By: Colliers Houston Patrick Duffy | President of Colliers in Houston Key Takeaways
Houston Highlights Houston's Industrial market continued to gain momentum as leasing velocity reached 9.0 million square feet in the fourth quarter, pushing the year-end volume to a historical record of 44.5 million square feet. The increase in demand for space continued to spur new development with over 16.6 million square feet under construction and an additional 51.1 million square feet proposed or in the final planning stage. Houston's industrial market recorded 9.6 million square feet of absorption in the fourth quarter, bringing the year-end total to a historical high of 28.5 million square feet of positive absorption. The vacancy rate decreased 140 basis points annually from 8.5% in Q4 2020 to 7.1% in Q4 2021. Executive Summary Commentary by Robert L. Alinger | Principal & Director 2021 was a banner year for Houston Industrial real estate. A number of factors contributed to record setting deliveries and absorption. Among those are historically low interest rates, increased port activity, e-commerce expansion, increased capital investment in U.S. CRE, and continued pent-up consumer demand due to COVID-19. Each element contributed to what was a... To read the full report, click here: https://www.colliers.com/ End
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