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60%
- Workplace occupancy stands at 60% in Houston, one of the highest rates within primary office markets according to Kastle occupancy data.
www.houston.org/houston-data/office-vacancy-rates
Apr 22, 2024 · Houston’s key office market fundamentals reported sliding trends at all levels during the first quarter while Skanska completed its newest 386,323-square-foot building, 1550 on the Green, in the Central Business District (CBD).
Jan 17, 2024 · Larger blocks of newer, quality space are becoming limited in several submarkets and only two Class A office buildings 100.000+ square feet are currently underway. West Houston’s Katy Freeway submarket led all leasing activity in 2023, accounting for 2.8 million square feet, or 29%.
Office market fundamentals are gradually improving as the top end of the market continues to lead in the recovery. Over 479k square feet (sf) of Trophy space was absorbed in Q1 2024, while the overall market saw a modest net absorption gain of 66k sf.
Jan 27, 2024 · Houston’s office space market is at a crossroads. While challenges like high vacancy rates and sluggish leasing activity persist, there are positive signs that shouldn’t be ignored. The city’s economic growth, coupled with its affordability, paints a hopeful picture for the future.
Jul 1, 2024 · The Q2 2024 Houston office market report reflects a couple significant changes first made in Q1 2024. Colliers now includes statistics on competitive, general-purpose, multi- and single-tenant office buildings 20,000 square feet or greater, excluding buildings 75% or more occupied by the owner.
Houston’s economy is coming off a remarkable year with record job growth in 2022, but the office market fundamentals remain soft as there remains a disconnect between office-using job growth and space demand as flexible work has changed how companies and employees use office space.
Oct 14, 2024 · Houston’s office market continues to grapple with elevated vacancy rates, which hit 25% by mid-2024 — a 190-basis-point increase year-over-year — to rank third nationally behind Austin, Texas, and San Francisco, according to the latest CommercialEdge national office report. Average asking rents in Houston stood at $30.01 per square foot, slightly below the national average and showing ...
