Vacancy rates continued their downward trend during Q4 2018 in the Houston industrial market decreasing 10 basis points quarter over quarter settling at a 10-quarter low of 5.0%.
Construction activity remained strong as 1.9M sq. ft. of projects were completed during the quarter while 5.9M sq. ft. of new projects began. The total amount of space under construction in the Houston market is 13.9M sq. ft.
Occupier activity across the industrial market in Houston displayed another high-demand quarter as 3.4M sq. ft. was absorbed in Q4 2018 bringing the year-end total for the market to 10.6M sq. ft. of positive net absorption.