HOUSTON – The overall market vacancy rate hit 6.7 percent, up from 5.4 percent this time last year, according to NAI Partners.
This is due partially to the 9.3 million sf of vacant space delivered to the market in 2019.
Of the 21.1 million sf currently under construction, about 68 percent is available for lease.
The vacancy rate for Class A properties is 12.1 percent, up from 7.5 percent this time last year.
Year to date, the overall net absorption is 8.2 million sf, just under the 8.6 million sf registered through December 2018.
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Source: NAI Partners
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