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Robert McGee Robert McGee says the industrial vacancy rate was approximately 5% entering 2018.

HOUSTON—Multiple companies are competing for the same properties and the vacancy rate in the North Houston market is expected to decrease in 2018. Tenants looking to get a great deal should take advantage now while they still can, says Robert McGee, principal at Lee & Associates–Houston. In this exclusive, McGee added further insights on the industrial market, focusing on North Houston where the vacancy rate for industrial space once sat around 10%.

“The vacancy rate for Houston’s industrial real estate market was approximately 5% entering 2018; however, if you look a little closer, not every submarket performed as well as others,” McGee tells GlobeSt.com. “For a while, North Houston had an abundance of vacancy in distribution buildings. Tenants were able to negotiate attractive concessions and lock in lower rental rates.”

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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