Houston Office Market Report | Q2 2022

HOUSTON - July 12, 2022 - PRLog -- "The office market, more than any other sector, is still dealing with occupiers grappling with long-term adjustments brought on by work-from-home shifts in the workforce and short-term concerns over the direction of the economy. The result is that larger organizations have been quiet, and most of the leasing activity has been with smaller, private companies. The larger organizations, which can best move the occupancy needle, are on the sidelines for now. Construction issues have improved slightly since Q1, and we expect continued improvement in that area for the balance of the year."
Patrick Duffy, MCR | President | Houston

Key Takeaways

• Houston office market records negative net absorption
• Vacancy up marginally by 10 basis points
• Leasing activity remains steady over quarter
• Class A occupiers gravitate toward newer product

Houston Highlights

Houston's office market posted negative net absorption in Q2 2022, recording -224,211 square feet. The overall average vacancy rate rose marginally by 10 basis points between quarters from 23.4% to at 23.5%. Office inventory remained unchanged, as no new inventory was added and there is... To read the full report, click here: https://www.colliers.com/en/research/houston/q2-2022-hous...