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CBRE: Warehouse Construction Completions Huge in Third Quarter

HOUSTON – CBRE reports 6.4 million SF of industrial space was delivered in the third quarter and a significant amount remains under construction. Some 7.5 million SF of industrial space is currently in development, with 4.4 million SF of the construction activity centered in the Southeast Houston submarket.

Even with the addition of the new space, the vacancy rate remains under control. The third quarter industrial vacancy rate is 5.3 percent, CBRE reports.

The total of completed industrial space is boosted by the 4 million SF Daikin facility, near Highway 290 in far northwest Houston. The Daikin air conditioning factory is the largest tilt-wall construction project in the world.

Oct. 8, 2016 Realty News Report Copyright 2016

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