Report | Houston Office Insight - Q4 2015
Struggles in the energy sector certainly slowed down Houston’s office market in 2015, although some positive momentum in Q4 helped to lessen the blow caused by the worldwide drop in oil prices. Rental rates actually saw 1.7 percent growth in Q4, with several large leases being signed.
Building sales activity also saw a number of positive signs as the year wrapped up. Two Q4 building sales were valued at more than $500 p.s.f., with investors likely to continue their aggressiveness going forward despite energy sector volatility.
In 2016, Houston is set to see more than 4 million square feet of property be delivered, although we see 2017 and 2018, respectively, as two of the lightest construction years for the market since the recession—with less than 1.6 million square feet in total set to hit the market.
Learn more about what’s happening—and what we expect to occur in the coming months—in the Houston office market in our Q4 US Office Insight.
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