Q1 2017 Houston Research & Forecast Report
Houston office construction down 50% from one year ago
Houston’s office market has struggled over the past few
years with rising vacancy and slower than average job
growth due to a weakened energy market. However, as the
office construction pipeline has grown smaller and most
spec developments have been put on hold, the office market
appears to be stabilizing.
Although the average vacancy rate in Houston increased
100 basis points over the quarter, 1.8M SF of new inventory
delivered and 40% of that space was vacant. Available
sublease space has decreased over the last two quarters and
energy sector layoffs have declined. The market will most
likely remain relatively flat, plodding through 2017.
Houston’s office market posted 0.7M SF of negative net
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