HOUSTON – Local office vacancy increased ten basis points to 22.1 percent in August 2018, according to a report from NAI Partners.
Year to date, 374,204 sf of office space was delivered with 30 percent of that available for lease.
About 2.65 million sf is currently under construction, up from July 2018. Availability stayed at 26.4 percent.
Leasing activity was 9.3 million sf as of August. Net absorption was over two million sf.
Gross average asking rent increased to $28.35 per sf.
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