Houston office space on the verge of evolutionHouston office space on the verge of evolutionhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=201992018-05-29T05:00:00Z2018-05-29T22:50:00Z

​​​​HOUSTON – The amount of vacant office space in the bayou city is hovering at about 22 percent, an all-time high.

Despite this, the number of coworking spaces continues to skyrocket. 

According to JLL, companies are demanding more flexible office space—meaning shorter commitments, and the ability to increase or decrease their space according to their current needs.

In addition, coworking spaces are increasingly more affordable than traditional office space when factoring in things like build-out costs.

Coworking spaces also benefit landlords that would otherwise see buildings remain vacant while waiting for large companies to sign long-term leases. 

Coworking spaces currently account for less than 5 percent of Houston’s current office inventory, but that number is expected to jump to 30 percent by 2030.

A recent economic impact report released by WeWork showed that more than half of its members are small companies who could not have otherwise qualified for leases in larger commercial building.​
Houston Business Journal
Houston-The Woodlands-Sugar Land

​​Check out Houston-The Woodlands-Sugar Land Office Market Research.

See also: JLL's "1Q 2018 Houston Office Market Insights & Statistics Report​"

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