Jeremy Lumbreras, SIOR, Vice President in Houston, recently participated in Bisnow’s Houston industrial panel along with other industry experts to discuss trends and the market. The resounding theme was industrial warehouses and distribution centers are among the most coveted types of commercial real estate right now.
Lumbreras said, “Our team has always felt like e-commerce, particularly for Houston, is still in its infancy, especially when you look at our size population compared to similar-sized metros. Most of these larger e-commerce users only have a fraction of the footprint as they do in some of those other markets.”
Despite any challenges and possible pent-up demand for inquiries and tours, Stream has continued to execute deals. Since the stay-at-home orders came into effect in mid-March, Stream has signed 58 leases amounting to 2.2 million square feet, of which 47 percent were either new deals or expansions.