Page 14 - NBIZ Magazine August 2023

coupled with several new and second-generation vacancies, primarily in the West and Northwest submarkets, may lead to
a more tenant-friendly rate structure in those submarkets. Any deviation from this projection may stem from the slowing
Industrial
construction pipeline in the coming quarters and possibly into early 2024.
Houston
23Q2
Overall, the outlook for the remainder of the year is positive for Houston’s industrial real estate market. All these
factors combined with Port Houston’s expansion, metro Houston’s continued regional population growth, and the region’s
solid overall investment interest, will carry momentum into and during the second half of 2023. N
Under Construction
Institutional Inventory - 500,000 SF or Greater
The buildings in the table below represent a sampling of the developments currently underway in Houston’s industrial market.

% Leased/ Est. Delivery Developer/Owner/
Business Park/Address Submarket RBA Owned Date Tenant
The Woodlands/
NorthPort Logistics Center Conroe 1,224,498 0% Q3 2023 Lovett Industrial
TGS Cedar Port DC4 East-Southeast Far 1,218,956 0% Q3 2023 Trans-Global Solutions
Presidents Park Bldg 4 North Hardy Toll 1,213,573 0% Q4 2023 Prologis
Road
Beltway66 Logistics Park Bldg 1 South Hwy 35 1,200,000 100% Q4 2023 Target
Provident Realty
Port 88 Logistics Bldg 1 East-Southeast Far 1,027,490 0% Q2 2024
Advisors
Generation Park Northeast Hwy 90 1,026,270 0% Q4 2023 CA Ventures
Falcon Commercial
Kingsland Ranch Logistics Park Bldg 3 Sugar Land 855,610 0% Q3 2023 Development
Capital Development
Logistics Center II East-Southeast Far 800,405 0% Q1 2024
Partners
Principal Global
Parkside Logistics Center Bldg 1 East-Southeast Far 759,693 0% Q3 2023
Investors
Construction Activity
Houston Industrial Construction
Construction by Submarket
# of Buildings Available SF Houston Industrial Under Construction
190 20,373,146

Total SF Pre-Leased
29,508,236 34.4%

Future Deliveries
Future Deliveries
18,000,000 16,360,582
16,000,000
14,000,000 11,400,321 11,744,268
12,000,000
Square Feet 10,000,000 7,553,425 7,027,446 9,405,963 6,186,196
8,000,000
6,000,000
4,000,000
2,000,000
-
Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 2025 North Northeast Northwest South Southeast Southwest
Estimated Completion
Estimated Completion

Danny Rice joined Colliers Houston in July 2023 as President of the firm's brokerage operations which includes over 120 brokers,
marketing and administrative staff. With over 17 years of experience in the commercial real estate industry, Danny has been involved in
Colliers | Houston | 23Q2 | Industrial Report
many facets of the business including brokerage, marketing, research, technology, management and operations. Danny can be reach at
Danny.Rice@colliers.com.
Patsy Fretwell, joined Colliers in 2023 as the Research Director and has more than 40 years of communications, research and statistical
analysis experience in the commercial real estate industry. Patsy can be reached at Patsy.Fretwell@colliers.com
Paul Dominique, Senior Associate, specializes in industrial representation for logistics companies, manufacturing and corporate users
of space. He works with his clients to execute cost reduction strategies, multi-market transactions, site selection and build to suit
projects, disposition of surplus property and overall portfolio management. Paul can be reached at Paul.Dominique@colliers.com.

14 NBIZ ■ August 2023