Premier Industrial commercial real estate news, analysis, trends and information including warehouse, distribution, logistics, e-commerce, self storage and R&D space deals and players.
In this <b>EXCLUSIVE</b>, Adam Hooper discusses his outlook on the commercial real estate market, his expectations for the remainder of the year and 2020, and the impact of upcoming legislation changes.
Despite global headwinds and continued turmoil in the energy sector, Houston’s economy remains in growth mode with approximately 83,000 jobs created year-over-year, and 48,000 added in second quarter alone.
Strong tenant demand has also caused rents to rise, with the overall average rent higher by 7.8% year-over-year, including 10 submarkets that record rent increases of more than 10% during that period.
The new facility will be constructed by the Hillwood Group of Dallas and Chapman Properties of Leetsdale, PA. Amazon has committed to investing more than $30 million into the project, state officials note.