Nine office buildings break ground — guess whereNine office buildings break ground — guess wherehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=33832014-08-13T06:58:00Z2014-08-13T07:00:00Z

HOUSTON - Nine office buildings broke ground in the Houston area during second quarter 2014, according to CBRE research:

• Hilcorp Energy Tower, Downtown
• Enclave Place, Energy Corridor
• Mason Creek Office Center II, Katy
• Katy Ranch Phase I, Katy
• Generation Park, Northeast
• Hughes Landing Exxon I, The Woodlands
• Hughes Landing Exxon II, The Woodlands
• Kiewit Energy Group, The Woodlands
• Westway Plaza, West Belt

The Woodlands saw the most new groundbreakings and the most dramatic changes in vacancy and rental rates. The vacancy increased to 9.4 percent in 2Q 2014 from 4.5 percent in 1Q 2014. Rental rates increased by $8.48 per sf to $37.14.

Overall asking rental rates throughout Houston increased from $25.03 per sf in 2Q 2013 to $25.91 per sf in 2Q 2014.

In addition to The Woodlands, the Katy Freeway and Westchase areas saw the largest rate increases throughout the city.

Year-over-year for 2Q, Katy Freeway Class A rates increased $2.23 per sf to $37.95 per sf, while Westchase Class A rates increased $2.40 per sf to $41.20 per sf.

For the full CBRE report, see Houston Office MarketView 2Q 2014 (PDF) under Office at Houston-Sugar Land-Baytown Market Data Sources.

Houston Business Journal
Houston-The Woodlands-Sugar Land
http://www.bizjournals.com/houston/blog/breaking-ground/2014/08/these-9-office-buildings-just-broke-ground-guess.htmlRead more at {Source}

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