|Drop, soar, flat? Savills Studley 3Q 2015 Houston office||Drop, soar, flat? Savills Studley 3Q 2015 Houston office||https://www.recenter.tamu.edu/news/newstalk-texas/?Item=11613||2016-01-05T06:00:00Z||2016-01-05T19:00:00Z|
HOUSTON - Savills Studley has released its Houston Office Sector Report for 3Q 2015:
Overall Rent Drops
Overall asking rent, $29.46, fell by 1.1 percent for the quarter. Class A asking rent, $35.59, similarly declined by 1.5 percent.
Availability Continues to Soar
The market’s overall availability rate, at 22.5 percent, increased by 0.8 pp from last quarter and by 4.6 pp from last year. The Class A availability rate jumped by 0.4 pp quarter-on-quarter and by 5.5 pp year-on-year to 23.0 percent.
Quarterly Leasing Remains Flat
Similar to the first and second quarter, third quarter leasing registered 2.1 million sf in volume. On a trailing four-quarter basis, volume attained 10.2 million sf, dropping by 26.7 percent from the 13.9 million sf recorded in third quarter 2014.
Submarkets Surpass Plateaus
Katy Freeway’s overall and Class A availability rates surpassed 30 percent. In both Westchase and The Woodlands, Class A rates exceeded 25 percent.
|Savills Studley||Houston-The Woodlands-Sugar Land||Office|| https://assets.recenter.tamu.edu/Documents/MktResearch/Houston-office-SavillsStudley3Q15.pdf|
See more data at Houston's Office Market Research.