Houston office vacancy rates dwindle in 3Q 2013Houston office vacancy rates dwindle in 3Q 2013https://www.recenter.tamu.edu/news/newstalk-texas/?Item=61092013-10-07T08:05:00Z2013-10-07T00:00:00Z

HOUSTON - Office vacancy rates throughout the Houston area continued to shrink in 3Q 2013, according to CBRE Group Inc.’s Houston office.

Ten projects in Houston delivered 1.6 million sf of office space during 3Q 2013 — the greatest amount of all major markets, 75 percent of which was preleased.

“Houston office market conditions are tight, particularly for Class A space, as the energy-led expansion spread to other sectors, increasing total employment by 12 percent, or nearly 294,000 jobs, since year-end 2009,” Sara Rutledge, director of research and analysis for CBRE.

In the Houston market this quarter, the preliminary office vacancy rate overall was about 11.9 percent. In the same quarter last year, the overall vacancy for Houston was 13.6 percent.

Houston Business Journal
Houston-The Woodlands-Sugar Land
http://www.bizjournals.com/houston/blog/breaking-ground/2013/10/office-vacancy-rates-continue-to.htmlRead more at {Source}

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