The market wide vacancy rate - at 5.1% - remained essentially unchanged quarter-over-quarter.
Net-occupier demand remained strong as Q3 2018 saw 2.3 million sq. ft. of positive net absorption across Houston's industrial market.
5.4 million sq. ft. of industrial space was completed in Q3 2018 as 4.5 million sq. ft. of new construction began, bringing the total amount of space under construction in the market to 9.5 million sq. ft.
Of the 5.4 million sq. ft. completed in Q3 2018, 56.2% of the deliveries were pre-leased as occupiers in the market continue to demand quality industrial space.