Houston office market year-end 2012: TranswesternHouston office market year-end 2012: Transwesternhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=85402013-01-16T14:56:00Z2013-01-16T15:00:00Z

HOUSTON - Delta Associates/Transwestern office outlook year-end 2012 has been released for the Houston MSA. There were 4.6 million sf of space under construction or renovation at the end of 2012, compared to 3.6 million sf at the end of third quarter 2012 and 1.4 million sf at year-end 2011.

Space under construction at year-end 2012 was 39.9 percent preleased compared to 47.2 percent at year-end 2011.

Vacancies continued to decline, falling to 10.6 percent at year-end 2012 and asking rents increased by approximately 4.8 percent in 2012.

Net absorption of office space totaled 1.4 million sf in 4Q 2012, compared to 860,000 sf in 3Q 2012. For all of 2012, the Houston metro had 4.2 million sf of net office absorption, compared to the 3.8 million sf absorbed in 2011.

The overall vacancy rate in the Houston metro (including sublet space) was 10.6 percent at year-end 2012, down from 10.9 percent in 3Q 2012 and 12 percent at year-end 2011.

2012 Net Absorption by Submarket
Submarket Year-End 2012 4Q 2012
Katy Freeway / Energy Corridor 1,211,000 sf 635,000 sf
Westchase 694,000 sf 252,000 sf
Woodlands / Conroe 640,000 sf 145,000 sf
Northwest 537,000 sf 228,000 sf
South Main / Medical Center 112,000 sf 117,000 sf

Source: Transwestern

Read more at the World Property Channel.

Houston-The Woodlands-Sugar Land
http://www.transwestern.net/city/houston/market-research/pages/research.aspxRead more at {Source}

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