Aug 4, 2016
Houston’s office sublease glut shrinks by 90,000 SF
HOUSTON - La Porte-based JV Industrial Cos. is subleasing 90,140 sf at a distribution facility at 750 Almeda Genoa Rd., according to a release from Houston-based NAI Partners. The entire facility...
HOUSTON – La Porte-based JV Industrial Cos. is subleasing 90,140 sf at a distribution facility at 750 Almeda Genoa Rd., according to a release from Houston-based NAI Partners.
The entire facility is 232,000 sf and sits on 9.5 acres of land.
Houston industrial is currently wrestling with a record-high volume of available sublease space on the market.
As of April 2016, there’s roughly 3.5 million sf of sublease space on the industrial market, a steep hike from the 1.6 million sf available last year.
Sublease space has grown by nearly 563,000 sf in second quarter. There hasn’t been that much sublease growth in a single quarter since 2009, according to CBRE.
Did you like this NewsTalk?
You might also like
PUBLISHED SINCE 1977
TG Magazine
Check out the latest issue of our flagship publication.