Port of Houston expansion project to further bolster demand in growing industrial market

During the first week of June, the Port of Houston Authority announced a $1.0 billion project to deepen the Houston Ship Channel and increase the capacity of the port. Recent strong trade volumes, which grew by 16% in tonnage over the past 5 years, along with investments in port infrastructure are expected to support a healthy industrial market in the region over the long term. With robust demand reflected by quarterly leasing activity and net absorption, developers continue to be bullish building new product to meet tenant requirements. However, high inflation throughout all categories of consumer goods and the Federal Reserve’s recent interest rate hikes have increased recession concerns which may impact occupier decisions.

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