The industrial real estate market is booming right now, and owners of property in N Houston are reaping the benefits. Values continue to rise to historically high prices. More and more property owners are noticing the appreciation on their property values.
The value of the Industrial market average for North Houston, between the 610 Loop and Beltway 8, has risen to $92/SF with an average market sales price of $2.2M. This is interesting because the transaction volume has more than doubled from $69M Q1 2021 same time last year to $137M Q1 2022.
Gross rents have also seen a slight increase of 5% on the rate. Growing to $7.58/SF today, which is up from the same time last year at $7.20/SF, and these rates are continuing in an upward trend.
We can expect these numbers to increase as more capital is invested into the area, and our property values continue to increase, as well as our tax valuations.
The following data from Costar shows this in detail, with the submarket column being North Houston, and the Market column representing the Greater Houston Area.
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