More than 50 percent of the industrial leases signed in the third quarter were in the north Houston submarket, per data from JLL. The submarket, which has historically struggled with high vacancy, also housed more than 40 percent of the third-quarter’s net absorption in the industrial arena.
JLL, in the company’s third-quarter industrial report, said the north submarket was assisted by landlords lowering rents to fill vacant space
Granted, the north submarket still has highest vacancy rate in Houston. The north Houston submarket is sitting on an 8.6 percent vacancy rate for industrial buildings, per JLL. The lowest vacancy rate is in the south submarket with 2.2 percent vacancy, according to JLL.
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