Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-Demand in the Houston area industrial market pushed absorption to 6.2 million sf in the second quarter, its highest level since 1998, according to Grubb & Ellis Co.’s recently released report.

Such robust absorption indicates the 370-million-sf industrial market has rebounded, according to Ariel Guerrero, research services manager for Grubb & Ellis’ local office. “Every submarket except for one posted absorption growth,” he tells GlobeSt.com. “I haven’t ever seen anything like this.” In Q2 2004, the region absorbed 5.3 million sf.

The East Southeast Far submarket led the region with nearly 4.2 million sf, including Wal-Mart’s four-million sf distribution center that came online in Cedar Crossing Business Park. “The record absorption was because of Wal-Mart,” Guerrero says. “But, even if you take Wal-Mart out of the equation, it was still a great quarter for absorption.” In the Northwest Far and Northwest Near submarkets plus Fort Bend County each surpassed the 300,000-sf mark. The trio accounted for 1.2 million sf of the quarter’s positive reading.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Fall 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.