RESEARCH

For Houston commercial real estate, there is no substitute for accurate and timely market intelligence. Lincoln Property Company’s in-house Appraisal and Research departments advise clients on the constantly changing commercial real estate environment, helping them make quick market decisions, or plan long-term strategy. Please contact us to receive a copy of our marketing materials, or to discuss the Houston commercial real estate market today.

HOUSTON OFFICE MARKET 1ST QTR. 2022

RSF
Direct Vacancy
62,048,886
Total Availability
65,971,352
YTD
1,233,608
Avg. Rent
$28.90

The Houston office market ended the 1st Qtr. 2022 with a vacancy rate of 18.8%, compared to a vacancy rate of 25.0% in the previous quarter.  Net absorption totaled positive 1,233,608 square feet in the 1st Qtr.  Rental rates ended the quarter at $28.90, compared to $38.43 in the previous quarter.  There was a total of 846,361 square feet delivered to the market and 3,821,785 square feet under construction in the 1st Qtr. 2021.

Source: CoStar

HOUSTON OFFICE MARKET 4TH QTR. 2021

RSF
Direct Vacancy
63,261,266
Total Availability
67,038,637
YTD
522,511
Avg. Rent
$29.03

The Houston office market ended the 4th Qtr. 2021 with a vacancy rate of 19.2%, compared to a vacancy rate of 18.9% in the previous quarter.  Net absorption totaled negative 522,511 square feet in the 4th Qtr.  Rental rates ended the quarter at $29.03, compared to $28.98 in the previous quarter.  A total of 2,124,630 square feet was delivered to the market and there was 3,899,802 square feet under construction.

Source: CoStar

HOUSTON OFFICE MARKET 3RD QTR. 2021

RSF
Direct Vacancy
61,552,372
Total Availability
65,131,855
YTD
884,216
Avg. Rent
$28.98

The Houston office market ended the 3rd Qtr. 2021 with a vacancy rate of 18.9%, which did not change from the previous quarter.  Net absorption totaled positive 884,216 square feet in the 3rd Qtr.  Rental rates ended the quarter at $28.98, compared to $28.86 in the previous quarter.  There was 922,415 square feet delivered to the market and 4,889,795 square feet under construction at the end of the 3rd Qtr. 2021.

Source: CoStar

HOUSTON OFFICE MARKET 2ND QTR. 2021

RSF
Direct Vacancy
61,368,454
Total Availability
65,093,656
YTD
249,984
Avg. Rent
$28.86

The Houston office market ended the 2nd Qtr. 2021 with a vacancy rate of 18.9%, compared to a vacancy rate of 18.7% in the previous quarter.  Net absorption totaled positive 249,984 square feet in the 2nd Qtr.  Rental rates ended the quarter at $28.86, compared to $28.98 in the previous quarter.  There was 1,446,233 square feet delivered to the market and 5,294,914 square feet under construction at the end of the 2nd Qtr. 2021.

 

Source: CoStar

HOUSTON OFFICE MARKET 1ST QTR. 2021

RSF
Direct Vacancy
60,545,459
Total Availability
63,901,920
YTD
(408,633)
Avg. Rent
$28.98

The Houston office market ended the 1st Qtr. 2021 with a vacancy rate of 18.7%, compared to a vacancy rate of 18.1% in the previous quarter.  Net absorption totaled negative 408,633 square feet in the 1st Qtr.  Rental rates ended the quarter at $28.98, a decrease from $29.57 in the previous quarter.  There was 681,823 square feet delivered to the market 6,403,348 square feet under construction at the end of the 1st Qtr. 2021.

Source: CoStar

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