Houston the 7th Most Expensive CBD Office Market
Washington DC is the hottest office market in the country as the expansion of federal government agencies is driving activity, rents and values upward. However, Midtown Manhattan retains its usual top spot as the most expensive downtown office market in the country with an average quoted annual rental rate of $65.00 per square foot at the end of the 4th quarter, 2010. Class A office rents in Houston’s Central Business District have decreased 10% since the beginning of 2009, when the recession first made its presence felt on the Houston office market. Despite any upward movement in asking rental rates, Houston is the 7th most expensive downtown office market in the U.S.
View the full report: North American Office Highlights | 4Q 2010