Houston’s industrial market saw record-high net absorption in Q3 2021, along with sustained WTI price recovery.

With demand driven largely by e-commerce retailers, third-party logistics providers, and materials distributors, quarterly net absorption totaled 11 million square feet (msf) in the Houston industrial market. The Southwest submarket posted the highest net absorption, totaling 11 msf, while the lowest net absorption, at 0.2 msf was observed in the South submarket. Notably, Crawford Electric signed a 500,000-square foot (sf) lease at West Ten Business Park in the Southwest submarket. In the South submarket, Yokohama Tires signed a 305,016-sf lease at South Belt Central Business Park which was recently constructed by local developer Investment & Development Ventures.

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