Market Spotlight – 2024 Q2 Office Houston, TX Metro Area
- February 14, 2024
- Rahul Samuel
The Houston office market continues to face ongoing challenges. The nearly 70 million SF available for lease is near an all-time high and represents over 27% of the market. While this excess inventory is being felt across all of Houston’s office submarkets, it is especially high in the CBD where the amount of available space has increase by over two-million SF since 2020. Houston’s 24.7% vacancy rate remains among the highest in the nation in major markets. High vacancy rate and substantial sublease availability continue to keep rent growth low.
About SVN | J. Beard Real Estate – Greater Houston
SVN | J. Beard Real Estate – Greater Houston is an independently owned and operated SVN® office located in The Woodlands, Texas. The SVN® brand is a globally recognized commercial real estate entity united by a shared vision of creating value for clients, colleagues, and communities. Currently, SVN comprises over 2,000 advisors and staff working in more than 200 offices across the globe. SVN’s brand pillars represent the transparency, innovation and inclusivity that enable all our advisors to collaborate effectively with the entire real estate industry on behalf of our clients. SVN’s unique Shared Value Network® is just one of the many ways that SVN Advisors create outsized value for all stakeholders. For more information, visit www.jbeardcompany.com.