Downtown shines as Houston economy picks upDowntown shines as Houston economy picks uphttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=207512018-08-01T05:00:00Z2018-08-01T23:30:00Z

​​​​​​​Downtown Houston Market Highlights: Residential, Office, Retail, and Hotel.HOUSTON – The local economy continued to expand at a good pace through second quarter 2018, according to the “2Q 2018 Downtown Houston Market Report​” from Central Housto​n Inc.

According to the report, the regional and downtown office markets are likely to see a boost as upstream energy activity picks up, including recently announced offshore expansion projects. 

Job creation opportunities and space expansions by the energy industry will follow closely. 

The downtown office market and development activity has not slowed down, demonstrative of its resilient economy.

In second quarter 2018, downtown Houston saw major footprint expansions for both energy and non-energy tenants, an influx of local and global law firms, and exponential growth of existing law firms. 

Commercial real estate firm Berkadia​ named downtown the second of the top five Houston neighborhoods with the biggest gains in occupancy year over year for the first quarter—an 11 percent gain to 70 percent occupancy. 

Tagged as one of the nation’s fastest growing tech hubs, attracting significant investments from Silicon Valley companies and major local investors, the downtown Houston innovation ecosystem continues to thrive.

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