Houston

April 28, 2017 Comments Off on Sublease Office Space Slowly Dwindling Views: 274 Houston-Galveston, Texas News

Sublease Office Space Slowly Dwindling

The Houston office market’s glut of sublease space topped out at 12 million square feet in Q3 2016. Since that time, the amount is beginning to dwindle, according to statistics released by NAI Partners. In Q1 2017, the total amount of sublease space stood at 11.1 million square feet, a 3.5% drop from Q1 2015. Class B sublease space fell 9.1% from Q4 2016. Approximately 80% of available sublease space is in Class A office buildings. Construction activity is also reportedly slowing down.

Cheerier news is that the Houston Purchasing Managers Index came in at 51.4 in March 2017, signaling economic expansion in the Houston region for the sixth consecutive month. Additionally, the U.S. rig count continues climbing.

Read More at NAI Partners


Subscribe to Connect Daily Texas

For advertising information, please contact Joni Margotta

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , ,

Comments are closed.