HOUSTON–As GlobeSt.com reported at the end of June, Cassidy Turley has brought on Jason Dillee as vice president of industrial project leasing. In this new role, Dillee will represent landlords in the industrial market helping to expand the company’s capabilities in the industrial sector. GlobeSt.com reached out to Dillee to get his take on the new role and the state of the industrial market.
GlobeSt.com: You’re tasked with expanding Cassidy Turley’s industrial platform, how do you plan to go about that?
Dillee: I’ve spent the majority of my ten years working with owners and I expect that to continue going forward with Cassidy Turley. I have a number of existing relationships and am looking forward to utilizing Cassidy Turley’s expansive platform to grow those and forge new ones. If you own industrial real estate, Houston is where you want to be right now.
GlobeSt.com: In your opinion what is the current state of Houston’s industrial market?
Dillee: Very strong. We have seen an explosion of new development which will soften things up a bit, but absorption continues to be very strong.
GlobeSt.com: As a Houston native and industrial professional, how have you seen the market change over the years?
Dillee: Two things that stand out are the path of growth along the Beltway and beyond which is practically combining the North and Northwest submarkets to create one giant submarket and the fact that Houston is now being considered a Tier 1 market with prices that reflect that status.
GlobeSt.com: What do you see as the major strengths and weaknesses of the current market?
Dillee: At a 5% vacancy rate, the fundamentals still look very good for Houston. If we have a weakness right now, I would say it’s the lack of Tier 1 development sites.
GlobeSt.com: Other industry executives have mentioned that 2014 is shaping up to be the year of industrial. Do you see that to be the case?
Dillee: Yes, I expect plenty of activity through the end of 2014 and into 2015.
GlobeSt.com: Are there any submarkets or transactions that you are watching with keen interest?
Dillee: We are closely tracking all submarkets in order to ensure our clients have the latest and most accurate information for Houston.