RESEARCH
HOUSTON OFFICE MARKET 3RD QTR. 2020
- RSF
- 220,690,231 SF
- Direct Vacancy
- 38,287,478 SF
- Total Availability
- 49,896,418 SF
- YTD
- (1,290,163) SF
- Avg. Rent
- $31.62 PSF
The Houston Office market ended the 3rd Qtr. 2020 with a vacancy rate of 18.5%, compared to a vacancy rate of 16.3% in the previous quarter. Net absorption totaled negative 1,290,163 square feet in the 3rd Qtr. Rental rates ended the quarter at $31.62, an increase from $29.07 in the previous quarter. A total of 8 buildings totaling 272,995 square feet were delivered to the market in the 3rd Qtr. There was 4,125,671 square feet of office space under construction at the end of the 3rd Qtr. 2020.
Source: CoStar
HOUSTON OFFICE MARKET 2nd QTR. 2020
- RSF
- 333,863,511
- Direct Vacancy
- 54,517,222
- Total Availability
- 57,617,496
- YTD
- (921,527)
- Avg. Rent
- $29.07
The Houston Office market ended the 2nd Qtr. 2020 with a vacancy rate of 16.3%, compared to a vacancy rate of 16.8% in the previous quarter. Net absorption totaled negative 921,527 square feet in the second quarter. Rental rates ended the quarter at $29.07, a slight increase from $28.95 in the previous quarter. A total of 27 buildings totaling 623,149 square feet were delivered to the market in the second quarter. There was 5,749,950 square feet of office space under construction at the end of the second quarter 2020.
Source: CoStar
HOUSTON OFFICE MARKET 1st QTR. 2020
- RSF
- 332,856,684 SF
- Direct Vacancy
- 52,500,803 SF
- Total Availability
- 55,801,693 SF
- YTD
- 4,546 SF
- Avg. Rent
- $28.95
The Houston Office market ended the Qtr. 1 2020 with a vacancy rate of 16.8%, compared to a vacancy rate of 16.6% in the previous quarter. Net absorption totaled positive 4,546 square feet in the first quarter. Rental rates ended the quarter at $28.95, a slight decrease from $29.42 in the previous quarter. A total of 48 buildings totaling 641,734 square feet were delivered to the market in the first quarter. There was 5,132,284 square feet of office space under construction at the end of the first quarter 2020.
Source: CoStar
HOUSTON OFFICE MARKET 4th QTR. 2019
- RSF
- 332,324,069
- Direct Vacancy
- 51,587,328 SF
- Total Availability
- 55,273,624 SF
- YTD
- (848,493) SF
- Avg. Rent
- $29.42
The Houston Office market ended the fourth quarter 2019 with a vacancy rate of 16.6%, compared to a vacancy rate of 16.7% in the previous quarter. Net absorption totaled positive 848,493 square feet in the fourth quarter. Rental rates ended the quarter at $29.42, a slight increase from $29.06 in the previous quarter. A total of 18 buildings totaling 284,139 square feet were delivered to the market in the fourth quarter. There was 5,318,848 square feet of office space under construction at the end of the fourth quarter 2019.
Source: CoStar
HOUSTON OFFICE MARKET 3rd QTR. 2019
- RSF
- 332,180,812
- Direct Vacancy
- 52,406,538
- Total Availability
- 55,987,860
- YTD
- (604,587)
- Avg. Rent
- $29.06
The Houston Office market ended the third quarter 2019 with a vacancy rate of 16.7%. This was an increase from second quarter that ended with a vacancy of 16.1%. Net absorption totaled negative 604,587 square feet in the third quarter. Rental rates ended the quarter at $29.06, a slight decrease from $29.17 in the previous quarter. A total of 16 buildings totaling 248,567 square feet were delivered to the market in the third quarter. There was 3,985,330 square feet of office space under construction at the end of the third quarter 2019.
Source: CoStar