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Cushman & Wakefield office report: 4Q 2012 HoustonCushman & Wakefield office report: 4Q 2012 Houstonhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=80322013-03-05T14:03:00Z2013-03-05T08:50:00Z

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.

Houston Office Report 4Q 2012 — Submarket Comparison
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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