BREAKING NEWS

RNR Real Estate Briefs – Texas & more

Stockdale Buys Upscale Houston Hotel

Transformative Apartments Opening in East River

Impact Update: Petrochemicals and Port Houston

Astrodome Vision Advisor Wayne Ratkovich Passes

Houston Entity Files Chapter 11

REALTY NEWS REPORT - Logo

Banner
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact
FacebookLinkedinYoutubeEmail
REALTY NEWS REPORT - Logo

NAI Partners: Houston’s Crane-Served Manufacturing Buildings Suffering Because of Oil Decline

by Realty News ReportSeptember 10, 2016
Share0

HOUSTON – Demand for crane-served manufacturing buildings has declined sharply in Houston because of the drop in oil prices and drilling activity, according to a report by NAI Partners.

Although other sectors of Houston’s industrial market are strong, the crane-served market has 1.4 million SF of sublease space available.

Year-to-date the crane-served market has 1 million SF of negative absorption, NAI Partners reports, and the vacancy rate is rising. Some 355,000 SF of that building type is under construction. The weakness is most acute for buildings less than 30,000 SF.

On average, vacancy has risen to 10.5 percent for all crane-served buildings, but ranges from 15.1 percent for crane-served buildings less than 30,000 SF in size to 7.6 percent for buildings greater than 100,000 SF, NAI reported.

Many of the smaller (under 30,000 SF) crane-served buildings in Texas are used for manufacturing work related to oilfield work. This week’s U.S. oil rig count from Baker Hughes showed 414 rigs were currently in use. By comparison, at the peak in mid-2014 the rig count was over 1,600.

Meanwhile, the Dallas Branch of the Federal Reserve Bank reported that Texas factory activity increased in August, but broader business conditions were still fairly pessimistic.

Sept. 10, 2016 Realty News Report Copyright 2016

Share0
previous post
Canadian Firm Buys Houston Hotel
next post
Transwestern’s Noon: Industrial Vacancy Will Decline in 2017, Despite Addition of New Space

Related posts

RNR Real Estate Briefs – Texas & more

Realty News ReportSeptember 30, 2023

Stockdale Buys Upscale Houston Hotel

Realty News ReportSeptember 29, 2023September 29, 2023

Transformative Apartments Opening in East River

Realty News ReportSeptember 28, 2023September 28, 2023

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Search News

new version
ECD-RealtyNewsReport-Ad-300x250
Partners Ad
CBRE Ad
Arch Con Corporation Ad
Hines Ad
Avera Ad
Ziegler Cooper Ad
Lee & Associates Ad
2021 Realty News Report Ad
Property Logos
RNR - Lincoln Property Company
Hal Gordon - Property Tax Lawyer
Hunington Ad
Evergreen Commercial Realty
230725-RNR_Digital-Ad_Red
griffin
Hunington Ad

Let's Connect

logo
About US
Author Ralph Bivins is editor of Realty News Report, which covers regional and national news. Bivins recently received the Gold Award for Best Column in the National Association of Real Estate Editors Journalism Competition. Contact us
Follow us
FacebookLinkedinYoutubeEmail
@2022 All Right Reserved. Powered by CGS Digital Marketing
REALTY NEWS REPORT - Logo
FacebookLinkedinYoutubeEmail
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact