Mar 5, 2013
Cushman & Wakefield office report: 4Q 2012 Houston
HOUSTON - Cushman & Wakefield has released its fourth quarter 2012 report for the Houston office sector. Overall vacancy in Class A fell to 7.1 percent compared to 13.0 percent...
HOUSTON – Cushman & Wakefield has released its fourth quarter 2012 report for the Houston office sector.
Overall vacancy in Class A fell to 7.1 percent compared to 13.0 percent in 2011, with overall rental rates increasing by 8.0 percent to $33.11 per sf.
Overall vacancy for the metro area declined from 15.5 percent in 4Q 2011 to 12.7 percent in 4Q 2012.
Direct asking rents increased from $22.82 per sf in 4Q 2011 to $23.00 per sf in 4Q 2012. Year-to-date leasing activity increased 12.8 percent from 10.7 million sf in 4Q 2011 to 12.1 million sf in 4Q 2012.
| Submarket | Inventory | Overall Vacancy Rate | Under Construction | YTD Overall Net Absorption |
| Houston CBD | 36,582,000 | 11.9% | 0 | 1,078,862 |
| West Loop/Galleria | 23,653,404 | 11.6% | 711,669 | 167,685 |
| Katy Freeway | 20,692,217 | 6.7% | 2,197,220 | 1,239,882 |
| Westheimer/Gessner | 14,089,167 | 11.2% | 606,000 | 533,110 |
| North Belt | 11,268,269 | 16.4% | 0 | 133,084 |
|
SW Houston/Fort Bend Co. | 10,178,777 | 21.9% | 0 | -26,957 |
| Total* | 165,931,922 | 12.7% | 4,197,474 | 3,899,121 |
*All submarkets not represented in the table
Read more at Cushman & Wakefield. See more reports at Cushman & Wakefield.
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