Subscribe to Our Research Content

  • This field is for validation purposes and should be left unchanged.

Share

Houston Industrial Market Snapshot Economic Data and Information - El Campo Southwest Logistics Park

Download the PDF

 

Market Highlights

Continued tight vacancy. Midway through the second quarter, the vacancy rate edged up slightly 10 basis points to 5.5%, compared to this time last month at 5.4%. Occupancy of the 3.3 million sq. ft. delivered to the market year-to-date stands at 74.8%, and of the 85 properties with 9.9 million sq. ft. currently under construction, 59.8% is available for lease. Year-to-date net absorption totals 1.7 million sq. ft., including the 668 deals representing 9.7 million sq. ft. of leasing activity.

540-acre industrial park set to break ground in El Campo. The new rail-served SW International Gateway Business Park is designed to avoid the U.S.-Mexico border congestion. The 10 million sq. ft., Class A warehouse facility will be located along the Kansas City Southern Railway, offering frontage to the U.S. 59/I-69 NAFTA Superhighway. The groundbreaking for the master-planned multi-modal distribution park is set for mid-June 2018.

Overall, the outlook for Houston remains positive. Houston jobs grew at a strong annualized pace of 4.7% over the three months ending in April (35,400 jobs). Manufacturing (5,400)—driven in part by rising oil and gas activity—logged the fastest growth rate. The unemployment rate in Houston was 4.6% in April, down 0.1 percentage point from March. This happened during healthy labor force growth, which has been trending up since January. In comparison, the April unemployment rate in Texas and the U.S. was 4.1 and 3.9%, respectively. In addition, the Houston Purchasing Managers Index registered 56.6 in April, its highest reading since October 2014, and its sixth consecutive month above 50—indicating an expanding economy.

Houston Industrial Market Snapshot Economic Data and Information

Houston Industrial Market Snapshot Economic Data and Information

Houston Industrial Market Snapshot Economic Data and Information


Leta Wauson
Director of Research
[email protected]
tel 713 275 9618

We Want to Hear From You

  • This field is for validation purposes and should be left unchanged.