(Industrial : Houston-Sugar Land-Baytown) 7/7/2009 
HOUSTON (CB Richard Ellis) – Houston's industrial market remains stable, according to CB Richard Ellis' second-quarter report.

Absorption in the first quarter posted 207,123 sf, ushering the midyear absorption to a negative 118,827 sf. While 888,505 sf of new construction was delivered in the second quarter and 3.4 million sf are currently under construction, financial constraints continue to leave developers digging for capital to complete multitenant speculative properties.

Rail-served properties are seeing an increase in activity because of the rise in transportation costs and traffic congestion.

The 2014 completion of the Panama Canal is predicted to triple freight tonnage at the Port of Houston, according to Moody’s Economy.com. In addition, the Canal’s expansion will make way for larger vessels that will increase not only cargo traffic along the Houston Ship Channel, but also the need for improved logistics and rail.

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