Houston Realty Advisors, Inc. just helped Artisan Home Furniture find a new home at 8786 Westpark. Furniture was the name of the game in the industrial sector during the second quarter.
Houston filled up 1.6 million square feet of industrial space during the three months ended June 30 thanks to the completion of a 1 million-square-foot Rooms To Go distribution center and Ashley Furniture’s new 303,000-square-foot distribution center.
A total of 7 percent of local industrial real estate is vacant, according to a quarterly report on the sector by CB Richard Ellis Inc. That’s down slightly from the 7.1 percent vacancy CBRE tabulated for the first quarter of 2010.
Overall rental rates remained the same at 48 cents per-square-foot. Rates have not changed for a full year, CBRE reports.
Tenants are receiving concessions such as free rent or more money to build out their spaces from landlords, according to the real estate firm’s research.
For more information on Houston office space, Houston retail space or Houston warehouse space and Houston industrial space, please call 713 782-0260 or see my web site at : www.houstonrealtyadvisors.com Offer opportunities for Houston office space. Thank you for your interest.
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Ed A. Ayres
Houston Realty Advisors, Inc.