The Woodlands commercial real estate market is dynamic and ever-changing for the town of 110,000. In the 3rd Quarter of 2017, Houston and specifically the Woodlands Submarket showed a slow, but steady decline in Direct/Sublease vacant office space. Direct space in The Woodlands is estimated at 2,000,000 sf and Sublet space just below 300,000 sf respectively. Class “A” dominates the overall vacant space in The Woodlands, with over 60% of the office market. Quoted full service rates in The Woodlands are now hovering just over $30p sf/yr. and downtown Houston rates, historically the City’s highest, are $28p sf/yr. on average.
The 2018 leasing market appears to be promising with leasing activity already on the upswing. Oil prices have increased significantly recently, with some estimating prices over $80 a barrel in the coming year.
Presented by: Tim Maczko & Lisa Hughes of the J. Beard Real Estate Company
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