Skanska: Renaissance to urban core Houston

​​​​​HOUSTON – A renaissance in Houston’s urban core has created a renewed focus on living and working in Houston’s Central Business District.

There has been resurgence in both retail and mixed-use developments, and the multifamily market is one of the key drivers in Class A office development.

Estimates from mid-2017 predict the multifamily market will continue to grow as much as 40 percent by the end of 2018.

In 2017, trophy office buildings captured 64 percent of deals larger than 20,000 sf, despite accounting for only 36 percent of the market’s total inventory. 

Tenants are taking advantage of lower net effective rates in higher-quality spaces. 

Also in 2017, Houston ranked among the top five cities nationwide in terms of its volume of green office space. 

Tenants will continue to seek amenity-rich, flexible, and sustainable office environments where they can grow and thrive.

Matt Damborsky, Skanska USA, expects to see strong investment in Houston’s office market, particularly in its Class A assets, throughout the course of 2018.

—Matt Damborsky, ​​Skanska USA.​​