Montgomery County apartment, office demand upMontgomery County apartment, office demand uphttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=70602013-06-17T09:53:00Z2013-06-17T00:00:00Z

MONTGOMERY COUNTY - The average rental rate for apartments and townhouses in Montgomery County went from $1,642 in May 2012 to $2,025 in April 2013 in The Woodlands. Those numbers can compared with $1,479 in May 2008 and $1,785 in April 2009, according to data collected by the Houston Association of Realtors.

In The Woodlands Class A office property is completely occupied for the first time since 1997, which has raised rental rates for Class B properties.

Nearly 10 million sf of office space is in development in the Houston area suburban markets. The ExxonMobil campus just south of The Woodlands accounts for 3 million sf, according to CBRE Group Inc.

“Only 1.2 (million square feet) will deliver in the next three months, of which 60 percent is preleased, leaving little space vacant for new tenants,” according to CBRE’s quarterly review. The firm projects an additional 1.4 million sf in 15 buildings will be available within the next six months.

Houston’s economy also is driving development of 6.4 million sf of industrial space, 5.25 million of which is located in the city’s north and northwest suburbs.

The Courier of Montgomery County
Houston-The Woodlands-Sugar Land
http://www.yourhoustonnews.com/courier/news/rental-space-in-demand/article_f1396aa4-6f2b-5a3b-920b-1fb5483d0584.htmlRead more at {Source}

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