Spec Industrial Increases...For Now
With low oil prices becoming the norm, what will be the impact on the industrial market in 2016? At Bisnow’s 6th Annual Houston Industrial Real Estate event on Feb. 2, our panelists will discuss emerging trends, sales and leasing, new development and the hottest submarkets. Get tickets here and join us! Meanwhile, read on for a preview from one of our panelists!
Duke Realty SVP David Hudson says Houston spec industrial activity picked up in Q4, mostly concentrated in the southeast, southwest and north submarkets. Leasing activity has been incredibly strong in the southeast due to the growth in the plastics and petrochemical industries.
Yet there is no doubt that this period of high growth is going to come to an end, David says, but who knows when. One wild card: the opening of the Panama Canal this year will be positive for Houston but it’s hard to peg the exact growth in demand for industrial space from this event.
David points out that Houston has weathered and thrived through many commodities cycles, but if this downturn is coupled with drastic worldwide slowing of growth or a recession, this town will get very quiet.
Hear more at the event on Feb. 2. We're starting at 7:30am at the Hyatt Regency Houston Galleria. Get your tickets here.
