Wednesday , 26 February 2020
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85 Warehouses Under Construction in Houston

Rendering of Cresa's Lower Kirby District in Houston.

Rendering of Cresa’s Lower Kirby District in south Houston.

HOUSTON – Eighty-five industrial buildings, totaling 8.9 million sq. ft. are under construction in the Greater Houston industrial market, according to CBRE.

Last year was exceptionally strong for construction of warehouses and industrial buildings. Some 12 million square feet of new space was completed in 2014, the highest annual total since 2008, CBRE reported.

The strength in the market is powered by exceptional job growth and the a surge in petrochemical industry.

Despite the addition of new space, the Houston industrial vacancy rate dipped to 4.9 percent in the first quarter of 2015, the lowest vacancy rate in more than a decade, CBRE said.

The submarkets with the largest concentration of development are the Northwest with 28 projects totaling 3.4 million sq. ft., the North with 36 projects totaling 2.3 million sq. ft., and the Southeast with eight projects totaling 1.8 million sq. ft

The largest project under construction is Fallbrook Pines Business Park, by Trammell Crow Co. and joint venture partner Clarion Partners in northwest Houston. The first phase, scheduled for completion in the first quarter of 2015, will include four concrete, tilt-wall office/warehouse buildings totaling 709,045 sq. ft.

Cresa is developing the Lower Kirby District, scheduled to break ground this summer. The 500,000-sq. ft. industrial Class A park planned for 32 acres off Highway 288. The initial phase of the project will be an 181,000-sq. ft. building fronting Kirby Drive and Airport Boulevard that is 60 percent preleased.

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