|NAI: Houston's improving office market amid subleases||NAI: Houston's improving office market amid subleases||https://www.recenter.tamu.edu/news/newstalk-texas/?Item=19067||2018-02-14T06:00:00Z||2018-02-15T00:00:00Z|
HOUSTON – TechnipFMCA has placed a major block of Energy Corridor office space on the sublease market.
The 275,000-sf space is located in the Energy Tower II building at 11720 Katy Fwy. near Kirkwood.
Even though the sizable sublease is a set-back, overall, the Houston office market has been improving.
The sublease supply surged to more than 12 million sf in 2016, following a precipitous drop in oil prices.
After hitting the peak of 12 million sf, the sublease supply has declined to 8.8 million in February 2018, NAI Partners reports.
Over 1 million sf of sublease deals were completed in 4Q 2017.
During 4Q 2017, the Houston office market had positive absorption, following a long string of losses as the city's vacancy rate climbed.
|Realty News Report||Houston-The Woodlands-Sugar Land||Office|| http://realtynewsreport.com/2018/02/07/another-large-block-of-office-space-hits-sublease-market-in-houstons-energy-corridor/ |
See also: Houston-The Woodlands-Sugar Land Office Market Research.