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Colliers: Houston 3Q 2015 Office Market ReportColliers: Houston 3Q 2015 Office Market Reporthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=109022015-10-22T05:00:00Z

​​​​HOUSTON - Houston’s third quarter 2015 office market indicators reflect the dramatic drop in oil prices that occurred in 4Q 2014, according to Colliers ​International | Houston.

Houston’s office leasing activity declined 39.7 percent between quarters, recording only 0.7 million sf in 3Q 2015. 

When compared to the 3.4 million sf recorded 12 months ago in 3Q 2014, leasing activity decreased by 77.7 percent.

Over 1.4 million sf of new inventory delivered during 3Q 2015 and 41.4 percent of the space was vacant. Houston’s office construction pipeline totals 10.8 million sf and 62.4 percent is pre-leased.

Houston’s office market posted 338,584 sf of positive net absorption, pushing year-to-date positive net absorption to 891,825 sf. 

Average rental rates increased marginally, however submarkets with higher than average vacancy rates have slightly lower quoted rental rates than a year ago. 

The Houston metropolitan area created 38,400 jobs between August 2014 and August 2015, an annual increase of 1.3 percent. ​

Colliers International
Houston-The Woodlands-Sugar Land
Office
https://assets.recenter.tamu.edu/Documents/MktResearch/Houston_Colliers_Office.pdf

​Need submarkets? Click here to see current Houston Office reports under Market Research.

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