Avison Young 2Q 2016 office reportAvison Young 2Q 2016 office reporthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=139552016-07-26T05:00:00Z2016-07-26T19:45:00Z

​​​​​​​HOUSTON - Activity in the Houston office market has remained slow this past year amid the ongoing downturn in the energy industry, according to Avison Young.

At mid-year 2016, the energy industry finally shows signs of recovering with the bulk of energy analysts projecting rising,
not falling, oil prices through the end of ​the year.  ​

A substantial amount of available space has hit the market in the form of new construction and sublease space. 

For the first time in the current downturn, Class A rates fell from the previous quarter. 

Class A rates are down by 1.3 percent from first quarter to $34.36 per sf.

The vacancy rate in the Houston office market increased by 40 basis points from the previous quarter to 14.1 percent due to new construction deliveries outpacing absorption.​

Absorption through the rest of 2016 is expected to remain positive, but just barely so, with additional planned occupancies counteracting vacated sublease and direct space.​
Avison Young
Houston-The Woodlands-Sugar Land
https://assets.recenter.tamu.edu/Documents/MktResearch/Houston_Office_AvisonYoung.pdfSee Houston office market 2Q 2016 statistics​ from Avison Young, CBRE, JLL,​ Transwestern and JLL Skylines​ to top it off.Read more at {Source}

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