Several markets have emerged as growth markets, and they are becoming strategically important for operations, as well as attractive opportunities for industrial investors. Cushman & Wakefield identified Houston to be the top-performing emerging markets across six key tenant categories.
The six tenant types are third party logistics (3PL), construction/building supplier, e-commerce, retailer/wholesaler, food & beverage and manufacturing.
Houston is the market that ranked either first or second place in all categories, excluding primary markets. The Houston market has had nine deals more than 1 million square feet in the past few years and has thrived mostly in e-commerce and retailer/wholesalers’ activity. Houston totaled over 131.3 million square feet in new leasing activity from 2020-2022. Tenant types were broad-based, with leases signed by some of the largest tenants, including Lowes, Home Depot, Target, Wayfair and Tesla.
Houston has seen over 53 m
