With 460,000 square feet of new supply added to Houston’s office market in the fourth quarter of 2017, a boom in leasing still couldn’t tame the city’s vacancy rates. Free rent and other financial perks enticed companies to fill empty space, but the year ended with a 23.2 percent vacancy rate. A CBRE report found Houston “on relative solid footing” due to economic strength in Texas and nationally, but worries over stagnant energy industry hiring “could restrain any significant office sector leasing activity.” [Houston Chronicle]
Trending
Houston office market shows signs of recovery but new supply weighs down the numbers
Recommended For You
National
Feb 27, 2025
Trump dictates deadline for federal agencies to leave D.C.
The president is giving agency heads a few weeks to determine how their departments can relocate to “less-costly” parts of the country.
Los Angeles
Feb 28, 2025
$40M Encino manse to set new listing record
A new record has been set in Encino with the listing of a nearly $40 million estate as interest spikes in the neighborhood.
Chicago
Feb 28, 2025
Bulls player Williams straightens out mortgage snafu on Gold Coast condo
JP Morgan Chase moved to foreclose on $4 million loan to Patrick Williams of the NBA’s Chicago Bulls, but it may stem from a paperwork error.
South Florida
Feb 28, 2025
Developer buys renovated Boca Raton mansion for $16M, as busy season heats up
Developer Mitchell Robbins bought a renovated waterfront Boca Raton mansion for $16.2 million.
South Florida
Feb 28, 2025
Industrial vs yachts: Boat storage owner plans to replace Dania Beach marina with spec warehouses
The owner of the Banyan Bay Marine Center in Dania Beach plans to replace the marina with two warehouses totaling about 170,000 square feet.