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Industrial Chicago Industrial

​​Beneath The Surface: Decoding Houston’s Industrial Vacancy

Taylor Thiessen • 11/10/2023
Dive into the multifaceted aspects of vacancy within the Houston industrial market.
The Houston industrial market has undergone a significant transformation in recent years, marked by historic levels of development and demand. However, as demand has cooled off, Houston’s vacancy rates have risen. While vacancy will likely continue to rise, it is not necessarily a true depiction of market conditions—increased vacancy is being driven by an influx of new inventory amidst a return to sustainable demand. 

While vacancy rates are rising, increased vacancy has been primarily propelled by a record amount of new space delivering to the market vacant. Buildings built this year account for nearly 50% of Houston’s vacant space—new buildings are responsible for doubling the vacancy rate. Conditions are much tighter for older and smaller properties, where rental rates are lower than the premium-priced new construction—buildings built before this year have a vacancy rate of just 3.3%.  
This report dives into the multifaceted aspects of vacancy within the Houston industrial market. Our aim is to provide an in-depth analysis of where these vacancies are concentrated in both the current landscape and projected future supply. We dissect vacancy statistics by examining various factors such as building generation distinctions, building types, and building sizes. 

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