Apr 17, 2020
Houston office absorption hits lowest point since 2018
HOUSTON – Local office net absorption dropped to -577,000 sf in 1Q2020, the largest quarterly negative absorption since 2Q2018, according to CBRE. The overall vacancy rate increased 70 basis points from the...
HOUSTON – Local office net absorption dropped to -577,000 sf in 1Q2020, the largest quarterly negative absorption since 2Q2018, according to CBRE.
The overall vacancy rate increased 70 basis points from the previous quarter to 20 percent.
Class A properties had negative absorption of 581,000 sf, but Class B buildings posted a positive absorption of 79,000 sf.
The construction pipeline expanded last quarter. The metro is projected to have 1.1 million sf of new deliveries.
The Real Estate Center has more on DFW’s office market:
Source: CBRE
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