Houston industrial market holds steady as it anticipates record-high new supply for 2023

With the significant under-construction pipeline, new supply has steadily come online. The Houston industrial market saw approximately 10.7 million square feet (msf) added to the market for 2Q 2023. Going forward, the market is expected to see a record amount of new supply added to the total inventory this year. In addition, the under-construction pipeline remains high at 31 msf of space currently under construction, which is slightly below 1Q 2023. While construction starts have slowed, multiple buildings above 500,000 square feet broke ground this quarter, including the 1.2 msf industrial building at 5805 S. Sam Houston Parkway E.

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