NGKF industrial look at Houston and Texas submarkets

​​​​​​​​​HOUSTON - Newmark Grubb Knight Frank (NGKF) has released its 2Q 2016 industrial market report. 

In the Houston market, vacancy has remained low despite a new wave of supply due to a healthy demand.  ​

Demand for storage space comes from expanding web-based retailers and also from store-based retailers that need to adjust their supply chains to support a growing share of web-based sales.

The Houston Chronicle reports that Amazon plans to build an 855,000-sf warehouse in the 970-acre Pinto Business Park at the southwest corner of I-45 N and Beltway 8.

Amazon’s proposed $136 million facility, which would be separate from the company’s Prime Now facility in Humble, could bring 1,000 jobs to the area and an economic impact of $173.0 million annually.