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Houston employment reaches record high, affects office market Houston employment reaches record high, affects office market https://www.recenter.tamu.edu/news/newstalk-texas/?Item=227322019-07-03T05:00:00Z2019-07-03T22:00:00Z

HOUSTON – The local office vacancy dropped 40 basis points over the year to 21.3 percent in June, up from last month’s 20.8 percent rate.

According to NAI Partners, ​market-wide vacancy is approximately 49.7 million sf while the CBD and Energy Corridor saw vacancy rates at 24.7 and 33.1 percent, respectively​. 

So far this year, net absorption was negative 358,948 sf. Nearly 7.3 million sf of office space was leased.​​​​​

The gross average asking rent increased to $29.40 per sf. 

Nearly 2.4 million sf is under construction.​

Employment currently stands at 3,163,600, the highest point on record. The Houston metro created 79,800 jobs, a 2.6 percent increase, in the 12 months ending May 2019. 
NAI Partners
Houston-The Woodlands-Sugar Land
Office
https://www.naipartners.com/research/houston-office-monthly-market-snapshot-june-2019/See the full report at {Source}

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