HOUSTON INDUSTRIAL: FOURTH IN NATION

HOUSTON INDUSTRIAL: FOURTH IN NATION

HOUSTON (Grubb & Ellis) – Grubb & Ellis ranks Houston fourth in the nation for industrial real estate in 2006. According to Ariel Guerrero of Grubb & Ellis, Houston’s industrial vacancy rate is expected to fall to 5.6 percent by the end of 2006, compared with 6.1 percent at the end of 2005.

The Port of Houston is attracting retailers, manufacturers and logistic firms as an entry point for Asian goods, receiving overflow cargo initially intended for the Ports of Los Angeles and Long Beach. The Port of Houston is expected to experience growth with the 2006 opening of the first phase of the Bayport container terminal. The port has an abundance of available land for new container terminals and necessary extensions of major roads and rail lines, according to Grubb & Ellis.