Robust organic demand driven by expansions and move-ins.
Net occupier demand in Q4 2017 totaled over 1 MSF, pushing 2017 YE net absorption over 7 MSF.
Overall availability tightens by over 60 BPS.
Direct vacant space decreased 800 KSF and total availability decreased by 3 MSF, quarter-over-quarter.
Development pipeline grows as more spec projects break ground.
Port and West Houston logistics demand drive construction, as 3.3 MSF of new projects get underway.
User requirements and pipeline timing provide expectations for tightening in H1 2018.
Another record-setting year for Port Houston volume, and the emergence of the Gulf Coast as a globally low-cost petrochemical manufacturer, leaves Houston’s industrial sector well positioned entering 2018.