HOUSTON (Houston Business Journal) – H-Town’s industrial market had a negative direct absorption of 1.4 million sf between January and September 2010, according to data released yesterday by Cushman & Wakefield of Texas Inc.
The year-to-date figure represents a 9.4 percent direct vacancy rate for Houston’s industrial market, which consists of 343 million sf.
During the first nine months of 2009, Cushman & Wakefield reported a negative direct absorption rate of 2.5 million sf, nearly double the 2010 figure.
A total of 808,696 sf was delivered during the first three quarters of this year. By comparison, 4.2 million sf was built during the same period in 2009.