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Market Report

Houston Industrial Market Report

Midyear 2023

Record Cargo Volumes One of Many Positive
Forces Behind a Healthy Industrial Sector

Port Houston activity at an all-time high. Building on a record-setting 2022, more than 1 million TEU’s were handled at Port Houston from January through April 2023, the largest figure across the opening four months of any year. This allowed it to climb the ranks from seventh to fifth busiest among U.S. container ports. Contract negotiations at West Coast ports in early 2023, which have since been resolved, contributed to this surge as many shippers re-routed goods. While that trend could ease, Port Houston has other initiatives underway that should bolster cargo volumes longer term. In May, Union Pacific announced that it is expanding its intermodal service to provide stronger links from the metro to five markets in the Western U.S., including Los Angeles and Oakland. The upgrade allows shippers to directly unload containers at the terminal onto westbound trains, instead of first transporting them further inland, potentially impacting local industrial demand flows. 

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