Houston’s office market saw a remarkable year, spurred primarily by growth in the energy sector. The Q4 net absorption of 1.4M SF, (totals not seen since 2007), pushed year-end office absorption to 2.5M SF. More than 1.4M SF was added to Houston’s office inventory and, at the close of Q4, 10.7M SF of new office development was under construction. Energy giants such as Apache, BHP, ExxonMobil, Phillips 66, and Shell, currently have expansion projects in the construction pipeline, and many others have announced plans to build new office buildings to accommodate growth.
Posted on: Mon, 20 Jan 2014 23:14:24 +0000
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