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HOUSTON INDUSTRIAL AUGUST 2016
RECENT INDUSTRIAL LEASES
East-Southeast Far :: Packwell286,000 SF renewal and expansion at Bayport Distribution Center
Northwest Near :: Dal-Tile Distribution137,696 SF renewal and expansion at Hempstead Highway Distribution
Sugar Land :: Sanita Footwear50,000 SF renewal at Westhollow Distribution Center
RECENT INDUSTRIAL SALES
East-Southeast Far :: Ellington Trade Center 513,000 SF total, 3 building portfolio Buyer: Lincoln PropertySeller: KDC and Harbert Real Estate Fund joint venture
INDUSTRIAL LEASE STATISTICS
Source: Transwestern analysis of Costar data, includes buildings 15,000 SF RBA and greater, excluding government owned buildings
Houston Industrial Submarkets CLICK MAP BELOW TO EXPAND
610
45
1010
290
59
90
288
99
249
8
35
6
SE
N
S
NE
SW
CBD
NW
Industrial Market IndicatorsSUBMARKET TOTAL RBA (SF) DIRECT VACANT (SF) DIRECT VACANCY RATE OVERALL VACANCY RATE
SF UNDER CONSTRUCTION
Q2 2016 NET ABSORPTION
Central Business District 30,218,438 1,699,072 5.6% 5.9% - (86,000)
East-Southeast Far 48,853,213 3,548,558 7.3% 7.4% 3,692,952 333,000
North Far 64,199,073 7,568,063 11.8% 12.1% 469,275 (7,000)
North Near 17,946,140 1,150,927 6.4% 7.0% 35,000 (92,000)
Northeast Far 1,064,701 - - - - -
Northeast Near 30,586,328 550,556 1.8% 2.1% - 163,000
Northwest Far 63,912,619 4,264,305 6.7% 6.9% 5,148,925 391,000
Northwest Near 87,688,644 3,971,356 4.5% 5.0% - (441,000)
South Far 29,857,314 738,576 2.5% 2.6% 382,800 87,000
South Near 12,154,332 316,949 2.6% 2.6% - 119,000
Southeast Near 30,734,163 509,749 1.7% 1.7% - 11,000
Southwest Far 9,682,872 775,999 8.0% 8.0% 1,409,457 (18,000)
Southwest Near 39,507,910 1,935,612 4.9% 5.1% 495,260 329,000 Sugar Land 19,193,062 1,321,666 6.9% 6.9% - 12,000
TOTAL 485,598,809 28,351,388 5.8% 6.1% 11,633,669 801,000 Source: Transwestern analysis of Costar data, includes buildings 15,000 SF RBA and greater, excluding government owned buildings
MARKET WATCH
Industrial Sales StatisticsHOUSTON MSA UNITED STATES
QUARTER TO DATE
LAST QUARTER (Q2 2016)
TRAILING 12 MONTHS
LAST QUARTER (Q2 2016)
TRAILING 12 MONTHS
Volume ($ Mil) $37.0 $128.4 $1,370.6 $12,523.2 $66,054.3
No. Of Properties 2 16 126 1,233 6,570
Total SF 575,074 2,062,444 18,747,696 157,903,412 934,334,435
Average Price/SF N/A $58 $78 $80 $77
Average Cap Rate (Yield)
N/A 8.0% 7.7% 6.7% 6.8%
Source: Real Capital Analytics
Q213
Q313
Q413
Q114
Q214
Q314
Q414
Q115
Q215
Q315
Q415
Q116
Q216
Overall Vacancy Rates Asking Rental Rates (NNN)
$5.25
$5.50
$5.75
$6.00
$6.25
$6.50
$6.75
3.0%
3.5%
4.0%
4.5%
5.0%
5.5%
6.0%
MARKET WATCH HOUSTON INDUSTRIAL MARKET AUGUST 2016
HOUSTON INDUSTRIAL MARKET WATCHAUGUST 2016
45
45
1010
290
59
90
288
99
249
8
35
6
2
2
2
3
2
2
2
1
1
1
1
1
1
1
Southeast Near
East-Southeast Far
1
2
SE
Houston CBD1 Northeast Near
Northeast Far
1
2
NE
1
2
3
SW
1
2
NW
1
2
N
1
2
Northwest Near
Northwest Far
North Near
North Far
South Near
South Far
S
Southwest Near
Southwest Far
Sugar Land
Houston | INDUSTRIAL SUBMARKETS
CENTR AL
1. Houston CBD
SOUTHWEST
1. Southwest Near2. Southwest Far3. Sugar Land
SOUTHEAST
1. Southeast Near2. East-Southeast Far
SOUTH
1. South Near2. South Far
NORTHWEST
1. Northwest Near2. Northwest Far
NORTH
1. North Near2. North Far
NORTHEAST
1. Northeast Near2. Northeast Far
Copyright © 2016 Transwestern. All rights reserved. No part of this work may be reproduced or distributed to third parties without written permission of the copyright owner. The information contained in this report was gathered by Transwestern from CoStar and other primary and secondary sources believed to be reliable. Transwestern, however, makes no representation concerning the accuracy or completeness of such information and expressly disclaims any responsibility for any inaccuracy contained herein.
HOUSTON INDUSTRIAL MARKET WATCHAUGUST 2016
SEATTLE
WALNUT CREEK
LOS ANGELES
SALT LAKECITY
DENVER
MINNEAPOLIS
MILWAUKEE
ST. LOUIS
CHICAGO
DETROIT GREENWICHNEW YORK
NEW JERSEY
BALTIMORENORTHERNVIRGINIA
BETHESDAWASHINGTON DC
DALLASFORTWORTH
HOUSTONAUSTIN
SAN ANTONIO
OKLAHOMACITY
NEW ORLEANS
ATLANTA
FORT LAUDERDALEORLANDO
MIAMI-DADE
SANFRANCISCO
PHOENIXORANGE COUNTY
SAN DIEGO
BOSTON
SILICONVALLEY
TRANSWESTERNLOCATIONS
HOUSTON INDUSTRIAL TEAM
Brian GammillManaging Director [email protected]
METHODOLOGY
The information in this report is the result of a compilation of publicly available data from a variety of commercial and government sources.
T 713.270.7700 F 713.270.6285www.transwestern.net/houston
1900 West Loop South, Suite 1300Houston, Texas 77027
ABOUT TR ANSWESTERN
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate.
Transwestern was founded in Houston, Texas in 1978, and Houston remains the corporate headquarters today. As one of the preeminent commercial real estate firms in Houston, we offer a comprehensive menu of real estate services designed to provide owners, tenants and investors with the optimum solutions for their unique requirements. Transwestern has seasoned veterans in every area of expertise with the integrity, experience and creativity to be the best partner for its clients. Transwestern’s Houston office currently employs over 400 team members and has been an innovator in the Houston market for 38 years.
Darryl NoonSenior Vice [email protected]
Jude FilipponeVice [email protected]
Micheal PalmerSenior Vice President - Tenant [email protected]
Michael SnodgrassManaging Director - Structured [email protected]
Jan SparksManaging Director - Structured [email protected]
Kevin RobertsPresident, [email protected]
Carter [email protected]
CONTACT
Rachel AndraeResearch [email protected]
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