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The latest CBRE industrial report shows 66 warehouses and industrial buildings under construction, totaling 11.2M SF. During Q1 of this year alone, construction began on 17 projects totaling 854k SF. The biggest chunk of activity is the 4M SF Daikin factory and distribution facility at Highway 290 and the Grand Parkway. The HVAC company is expected to complete its facility in Q3 of this year.
Despite the plethora of new building, the Houston market has one of the lowest industrial vacancy rates in the nation. CBRE's report showed 95% occupancy with 1.8M SF of absorption.
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