Houston’s top submarkets for industrial growth
The Houston industrial market has experienced significant growth since Q4 2019, with a total of over 127 million square feet (msf) of new space added, representing a substantial 23.4% increase. The Southwest submarket led the expansion with a remarkable 40.7% growth, adding nearly 30 msf of new space since year-end 2019, fueled primarily by the e-commerce boom. Following closely behind is the Southeast submarket, which witnessed a robust 28% growth with close to 29 msf of new space delivered. This growth is largely driven by its proximity to the Port of Houston and the area’s established e-commerce hubs.
While not boasting the highest percentage increase, the Northwest submarket added the most new space in terms of square footage, with a substantial 30.6 msf of new inventory. Notably, the Northwest and North submarkets combined account for nearly half of Houston's total industrial inventory, solidifying their position as key logistics hubs.
June 26, 2024