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CBRE: Houston's office sublease space spikes 1.1M SF in 1Q2016CBRE: Houston's office sublease space spikes 1.1M SF in 1Q2016https://www.recenter.tamu.edu/news/newstalk-texas/?Item=127212016-04-05T05:00:00Z

​​​​​HOUSTON - CBRE Research has released the 1Q2016 Houston Office MarketView. The big story is sublease space—which spiked another 1.1 million sf this quarter, bringing the sublease total to 8.4 million sf.

Also, Houston’s office market experienced 214,716 sf of positive absorption this quarter due to new deliveries with dated pre-lease commitments. Market-wide vacancy increased 10 basis points this quarter, closing Q1 2016 at 14.3 percent.​

Additional highlights include:

• Rents began their descent as sublease space spiked, supply increased and demand slowed.
• Sixteen office projects under construction total 5.8 million sf with 44.3 percent pre-leased.
• Three buildings delivered over the quarter, totaling 691,646 sf came online at 80 percent pre-leased.

 


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Source: CBRE

CBRE
Houston-The Woodlands-Sugar Land
Office
https://assets.recenter.tamu.edu/documents/mktresearch/Houston_CBRE_Office_MarketView.pdfSource: {Source}

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