Houston Office Market Recovery Accelerates in 3Q
The Houston Office Market posted 957,000 square feet of positive net absorption during the third quarter mainly due to the suburban sector which posted net absorption of 687,421 square feet in the third quarter. The year-over-year vacancy rate decreased from 16.6% to 16.0% citywide. Rental rates for all classes of office space rose slightly between quarters to $22.93 from $22.70 per square foot in the second quarter.
You can access the full 3Q-2011 Houston Office Market Report here.