North Houston Industrial Sales See 108% Year-Over-Year Increase
Investor appetite is strong in Houston's North submarket, driving year-to-date sales volume to $77.2M — a year-over-year increase of 108%, according to a recent report from NAI Partners, using data from Real Capital Analytics. That is good news for one of the nation's largest industrial submarkets, home to George Bush Intercontinental and 93M SF of industrial inventory.
Notable transactions in 2017 include Exter's purchase of five buildings in Bammel Business Park, totaling 246K SF, and Vino Patel Real Estate buying the 104K SF ProDirectional property at 850 Conroe Park in Conroe.
The buyer profile has shifted dramatically over last year — 87% of acquisitions in the North submarket during 2017 were made by private investors, and only 13% were by institutional players, compared to 80% of acquisitions being made by private investors, 14% institutional investors and 6% REIT/listed throughout 2016.