One simple chart! Breaking down Houston's office submarketsOne simple chart! Breaking down Houston's office submarketshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=130722016-05-10T05:00:00Z2016-05-10T20:30:00Z

​​​​HOUSTON - Understanding an office market as large as Houston's is no easy task. Nearly 200 million sf is spread out over a variety of submarkets that can perform very differently from each other. A relative analysis can reveal pockets of strength, weakness, momentum and cyclicality.

David Wegman, Newmark Grubb Knight ​Frank (NGFK), created a simple chart that lays out many storylines from Houston's office market over the last decade.

•Houston features many employment-centric submarkets that always have lower vacancy than the average. 

Galleria/Uptown is a rock star with vacancy rates consistently on the low end. 

Bellaire/Medical District is a standout. With its reliance on the medical field, the area tends to move counter-cyclical to the rest of the local economy. 

CBD is steady as she goes. The largest employment center in Houston is synonymous with consistency. The area is vulnerable to supply shocks though, as seen by the sharp drop following the Great Recession. 

The Energy Corridor is extremely reactive to the price of oil. The area's relative vacancy rate follows the percent change in crude oil prices very closely.

Houston-The Woodlands-Sugar Land

​Click here for NGKF's​ "The Sum of the Parts in One Simple Chart"​ full report. Also more about what's happening in the office market, visit Houston's Market Research.

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