Q1 2019 | Fort Bend | Submarket Snapshot
The Fort Bend office submarket posted 16,615 SF of negative net absorption in Q1 2019.
The Fort Bend office submarket posted 16,615 SF of negative net absorption in Q1 2019. The average vacancy rate rose 60 basis points (bps) from 10.3% to 10.9% over the quarter and the average quoted rental rate increased slightly by 2.1% from $26.42 to $26.98 per SF. There are two small neighborhood office buildings under 30,000 SF each currently under construction. Both of the buildings are available for lease.
Medical Office Market
The average quoted rental rate decreased over the quarter from $29.41 to $29.05 per SF. The average vacancy rate jumped 310 bps from 12.9% in Q4 2018 to 16.0% in Q1 2019. Leasing activity increased slightly from 13,845 SF to 17,151 SF over the quarter. Two buildings totaling 58,199 SF delivered in the E Fort Bend/Sugar Land submarket in Q1 2019.
The average industrial vacancy rate decreased 90 basis points over the quarter from 4.7% to 3.8%. The submarket recorded 238,977 SF of positive net absorption during Q1 2019, down from the 378,648 SF of positive net absorption recorded in Q4 2018. The average quoted rental rate fell marginally over the quarter from... Click the link below to read the full report: https://s3.us-
* For the purpose of this report, the geographical boundaries for the Fort Bend industrial submarket include buildings that are typically considered by our clients when they are seeking locations in the Fort Bend/Sugar Land and Missouri City areas.
Lisa Bridges | Director of Market Research