A new report from real estate management and research firm JLL revealed that 4.6 million square feet of industrial space is under development across Houston, the Houston Chronicle reported.
Developers are currently under construction on 4.6 million square feet of industrial projects across Houston, according to a new report from real estate management and research firm JLL, the Houston Chronicle reported.
Houston saw 12 big-box warehouses and distribution centers built or break ground in 2017, marking a 20 percent increase from 2016 and a 140 percent surge from 2015, JLL said.
Vinmar International has commissioned a 500,000-square-foot building near the Port of Houston.
E-commerce is driving much of the demand for Houston industrial construction, as half of the 3.4 million square feet of industrial real estate that was leased in the fourth quarter were for consumer goods and logistics companies, according to JLL.
“Changes in supply chain planning are beginning to put Houston on the radar for regional distribution facilities and fulfillment centers, driving demand for larger industrial buildings,” JLL said in its report. “As tenants remain confident and developers disciplined, the Houston market is poised for another strong year in 2018.”