HOUSTON - Houston’s office construction pipeline totals 8 million sf and 64.3 percent is preleased, which is significantly less than the 17 million sf under construction one year ago.
Over 3.2 million sf of new inventory delivered during 4Q 2015 and 58.3 percent of the space is preleased.
Build-to-suit projects make up 60.4 percent of the pipeline, and the remaining 2.2 million sf of spec office space under construction is approximately 21.9 percent preleased. Approximately 2.6 million sf, or 52.9 percent of the build-to-suit projects under construction, are preleased to energy industry companies.
The majority of the new space is located in suburban submarkets and is scheduled to deliver over the next 12 months.
See Colliers 4Q 2015 Office Market Report in Market Research for more data.
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