CHICAGO – According to a midyear report by Cushman & Wakefield, Houston has the worst office absorption in the nation while Dallas has the best.
Houston had just over 1.5 million sf of negative net absorption in the first half of 2017. More than 11 million sf of sublease space is on the market, a slight improvement over last year. The vacancy rate is above 20 percent.
On the other hand, the DFW area had three million sf of positive absorption during that same period. The vacancy rate is at 16 percent, up from 22 percent in 2011. Leasing activity totals 6.3 million sf for the first six months of the year.
Cushman & Wakefield's research covered 87 markets across the nation.
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