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Industrial Report

United States | Houston, TX

Report | Houston Industrial Outlook - Q2 2011

Summary

The overall Houston economy continues to improve as a result of Houston's booming energy industry and the sectors that service it.
 
The rise in oil prices over the past year, new opportunities in oil shale plays, and the revival of offshore drilling in the Gulf of Mexico have fueled employment growth in the energy sector, with an increase in, 700 jobs from June of 2010. Demand is being fueled by numerous factors including:
  1. increasing population
  2. employment rate growth
  3. positive trade indicators
  4. increased activity in the oil and gas sector
  5. a diversified economy.

Net absorption for the overall Houston Industrial market was positive 1,698,100 square feet in the second quarter of 2011. The Southeast submarket was the most active with tenants absorbing +1,097,977 square feet of space.

Current market conditions will carry into the third and fourth quarters as companies attempt to finalize real estate decisions for 2011 and early 2012.

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