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. 2023

RSF
Direct Vacancy
63,024,185 SF
Total Availability
66,652,065 SF
YTD
72,516 SF
Avg. Rent
$28.99 PSF

The Houston office market ended the 1st Qtr. 2023 with a vacancy rate of 19.0%, compared to 18.8% in the previous quarter.  Net absorption totaled negative 420k square feet in the 1st Qtr.  Rental rates ended the quarter at $28.99, compared to $28.91 in the previous quarter.  There was a total of 12,000 square feet delivered to the market and 5,296,616 square feet under construction in the 1st Qtr. 2023

Source: CoStar

HOUSTON OFFICE MARKET 4TH QTR. 2022

RSF
Direct Vacancy
62,027,952 SF
Total Availability
66,068,604 SF
YTD
(1,195,309) SF
Avg. Rent
$28.91 PSF

The Houston office market ended the 4th Qtr. 2022 with a vacancy rate of 19.2%, compared to a vacancy rate of 18.9% in the previous quarter.  Net absorption totaled NEGATIVE 895k square feet in the 4th Qtr.  Rental rates ended the quarter at $28.91, compared to $28.90 in the previous quarter.  There was a total of 301,125 square feet delivered to the market and 5,013,210 square feet under construction in the 4th Qtr. 2022.

Source: CoStar

HOUSTON OFFICE MARKET 3RD QTR. 2022

RSF
Direct Vacancy
61,893,875 SF
Total Availability
22.5%
YTD
638K SF
Avg. Rent
$28.76 PSF

The Houston office market ended the 3rd Qtr. 2022 with a vacancy rate of 18.9%, compared to a vacancy rate of 19.1% in the previous quarter.  Net absorption totaled positive 638,000 square feet as of 3rd Qtr. 2022. Rental rates ended the quarter at $28.76, compared to $28.51 in the previous quarter.  There was a total of 66,277 square feet delivered to the market and 5,039,834 square feet under construction in the 3rd Qtr. 2022.

HOUSTON OFFICE MARKET 2ND QTR. 2022

RSF
Direct Vacancy
62,211,045 SF
Total Availability
66,232,396 SF
YTD
68,368 SF
Avg. Rent
$28.51 PSF

The Houston office market ended the 2nd Qtr. 2022 with a vacancy rate of 19.1%, compared to a vacancy rate of 18.8% in the previous quarter.  Net absorption totaled positive 68,368 square feet in the 2nd Qtr.  Rental rates ended the quarter at $28.51, compared to $28.90 in the previous quarter.  There was a total of 56,384 square feet delivered to the market and 4,723,978 square feet under construction in the 2nd Qtr. 2022.

Source: CoStar

HOUSTON OFFICE MARKET 1ST QTR. 2022

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

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

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