HOUSTON INDUSTRIAL FEBRUARY 2016 RECENT INDUSTRIAL LEASES Northwest Near :: The Service Center 81,350 SF renewal at West by Northwest North Near :: Circle 8 Services 38,620 SF new lease at Udelson Industrial Park Southwest Far :: Dräger 37,651 SF prelease at Beltway Southwest Business Park Northwest Near :: Specialty Rolled Metals 32,787 SF renewal at Windfern Distribution Center RECENT INDUSTRIAL SALES Northwest Far :: Bondesen North Business Park 519,853 SF, 11 property portfolio Buyer: Industrial Property Trust Seller: DCT Industrial Trust INDUSTRIAL LEASE STATISTICS Source: Transwestern analysis of Costar data, includes buildings 15,000 SF RBA and greater, excluding government owned buildings Houston Industrial Submarkets CLICK MAP BELOW TO EXPAND 610 10 10 290 59 90 99 249 8 6 SE N S NE SW CBD NW Industrial Market Indicators SUBMARKET TOTAL RBA (SF) DIRECT VACANT (SF) DIRECT VACANCY RATE OVERALL VACANCY RATE SF UNDER CONSTRUCTION 2015 NET ABSORPTION Central Business District 30,218,438 1,488,648 4.9% 5.0% - (55,000) East-Southeast Far 47,439,662 2,808,593 5.9% 6.0% 1,896,026 2,071,000 North Far 62,289,927 6,038,488 9.7% 9.9% 1,333,311 2,208,000 North Near 17,796,140 1,087,575 6.1% 6.4% 30,000 247,000 Northeast Far 1,064,701 - - - - - Northeast Near 30,171,678 374,480 1.2% 1.2% - 120,000 Northwest Far 62,969,456 4,540,907 7.2% 7.3% 4,138,840 1,578,000 Northwest Near 87,609,008 3,398,840 3.9% 4.1% 42,000 (137,000) South Far 29,810,794 720,904 2.4% 2.6% 210,000 343,000 South Near 12,154,332 393,370 3.2% 3.3% - 123,000 Southeast Near 30,734,163 523,540 1.7% 1.7% - (116,000) Southwest Far 9,552,615 628,820 6.6% 6.6% 743,757 318,000 Southwest Near 38,855,575 1,655,077 4.3% 4.3% 349,000 (31,000) Sugar Land 18,352,062 1,034,045 5.6% 5.7% 756,000 403,000 TOTAL 479,018,551 24,693,287 5.2% 5.3% 9,498,934 7,072,000 Source: Transwestern analysis of Costar data, includes buildings 15,000 SF RBA and greater, excluding government owned buildings MARKET WATCH Industrial Sales Statistics HOUSTON MSA UNITED STATES QUARTER TO DATE LAST QUARTER (Q4 2015) TRAILING 12 MONTHS LAST QUARTER (Q4 2015) TRAILING 12 MONTHS Volume ($ Mil) $57.2 $536.7 $1,829.7 $26,193.0 $76,568.0 No. Of Properties 7 54 162 2,586 7,417 Total SF 800,113 7,731,993 25,349,342 441,004,109 1,138,130,622 Average Price/SF N/A $101 $77 $75 $75 Average Cap Rate (Yield) N/A N/A 7.8% 6.6% 6.8% Source: Real Capital Analytics Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Overall Vacancy Rates Asking Rental Rates (NNN) $5.25 $5.50 $5.75 $6.00 $6.25 $6.50 $6.75 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0%
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MARkET WATCh HOUSTON INDUSTRIAL€¦ · MARkET WATCh Industrial Sales Statistics hOUSTON MSA UNITED STATES QUARTER TO DATE LAST QUARTER (Q4 2015) TRAILINg 12 MONThS LAST QUARTER (Q4
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HOUSTON INDUSTRIAL FebRUARy 2016
Recent IndustRIal leases
Northwest Near :: The Service Center 81,350 SF renewal at West by Northwest
North Near :: Circle 8 Services38,620 SF new lease at Udelson Industrial Park
Southwest Far :: Dräger37,651 SF prelease at Beltway Southwest Business Park
Northwest Near :: Specialty Rolled Metals 32,787 SF renewal at Windfern Distribution Center
Recent IndustRIal sales
Northwest Far :: Bondesen North Business Park 519,853 SF, 11 property portfolioBuyer: Industrial Property TrustSeller: DCT Industrial Trust
INDUSTRIAL LEASE STATISTICS
Source: Transwestern analysis of Costar data, includes buildings 15,000 SF RBA and greater, excluding government owned buildings
Houston Industrial Submarkets CliCk MAp Below To expAnd
610
45
1010
290
59
90
288
99
249
8
35
6
SE
N
S
NE
SW
CBD
NW
Industrial Market IndicatorsSUBMARKET TOTAL RBA (SF) DIRECT VACANT (SF) DIRECT VACANCY RATE OVERALL VACANCY RATE
SF UNDER CONSTRUCTION
2015 NET ABSORPTION
Central Business District 30,218,438 1,488,648 4.9% 5.0% - (55,000)
East-Southeast Far 47,439,662 2,808,593 5.9% 6.0% 1,896,026 2,071,000
North Far 62,289,927 6,038,488 9.7% 9.9% 1,333,311 2,208,000
North Near 17,796,140 1,087,575 6.1% 6.4% 30,000 247,000
Northeast Far 1,064,701 - - - - -
Northeast Near 30,171,678 374,480 1.2% 1.2% - 120,000
Northwest Far 62,969,456 4,540,907 7.2% 7.3% 4,138,840 1,578,000
Northwest Near 87,609,008 3,398,840 3.9% 4.1% 42,000 (137,000)
South Far 29,810,794 720,904 2.4% 2.6% 210,000 343,000
South Near 12,154,332 393,370 3.2% 3.3% - 123,000
Southeast Near 30,734,163 523,540 1.7% 1.7% - (116,000)
Southwest Far 9,552,615 628,820 6.6% 6.6% 743,757 318,000
Southwest Near 38,855,575 1,655,077 4.3% 4.3% 349,000 (31,000)Sugar Land 18,352,062 1,034,045 5.6% 5.7% 756,000 403,000
TOTAL 479,018,551 24,693,287 5.2% 5.3% 9,498,934 7,072,000 Source: Transwestern analysis of Costar data, includes buildings 15,000 SF RBA and greater, excluding government owned buildings
MARkET WATCh
Industrial Sales StatisticshOUSTON MSA UNITED STATES
t 713.270.7700 F 713.270.6285www.transwestern.net/houston
1900 West Loop South, Suite 1300Houston, Texas 77027
aBout tR answesteRn
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate.
Transwestern was founded in Houston, Texas in 1978, and Houston remains the corporate headquarters today. As one of the preeminent commercial real estate firms in Houston, we offer a comprehensive menu of real estate services designed to provide owners, tenants and investors with the optimum solutions for their unique requirements. Transwestern has seasoned veterans in every area of expertise with the integrity, experience and creativity to be the best partner for its clients. Transwestern’s Houston office currently employs over 400 team members and has been an innovator in the Houston market for 38 years.