Office Space In Houston Remains In Surplus

Posted on July 27, 2018

Even as the Houston economy rebounds positively from the oil bust and Hurricane Harvey, the office space market remains oversupplied.

A new report by PMRG predicts landlords will have to propose generous concession packages such as free rent and tenant improvement allowances to attract tenants while keeping rental rates steady.

The office space sector posted negative 789K SF of direct net absorption in Q2, pushing the year-to-date total to over 1.2M SF of occupancy losses.

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