BREAKING NEWS

Howard Hughes Buys Office Building in The Woodlands

Demand for Vacation Homes Nosedives

DC Partners Adds Kimpton Hotel to Fredericksburg Project

RNR Real Estate Briefs – Texas & more

Houston Design District Adds Modern Apartments

Green Builder: AI, Sustainability are the Future, Beazer CEO Says

REALTY NEWS REPORT - Logo

Downtown Houston
RNR-RalphBivinsProject-Interviews
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact
FacebookLinkedinYoutubeEmail
REALTY NEWS REPORT - Logo

Houston Office Vacancy Rising, Rents Falling, CBRE Reports

by Realty News ReportOctober 9, 2018
Share0

HOUSTON – (Realty News Report) – Houston’s office vacancy is getting worse, increasing pressure on landlords to cut rental rates, according to CBRE.

The third quarter vacancy rate rose to 18.5 percent, up from 17.6 percent in the third quarter of last year, the CBRE MarketView report.

The Houston office market has suffered through tough times for the last three years, following a sharp decline in energy prices and industry layoffs. That resulted in increase in vacancy and a bulge in sublease supply of office space. Oil prices have recovered, but the office market has not.

The initial leases on sublease space are expiring, adding vacancy to the landlord side of the ledger. This is putting pressure on landlords to cut rents to fill the buildings.

CBRE reported the average rent asking price was $29.06 per square foot in the third quarter, down from $29.33 in the third quarter of 2017.

Houston’s sublease inventory was 9.7 million SF in the third quarter, down from 10.5 million SF in the comparable period of 2017.

Oct. 9 2018 Realty News Report Copyright 2018

 

 

 

Share0
previous post
Houston Leasing Briefs
next post
Levy Park Wins International ULI Open Space Award

Related posts

Howard Hughes Buys Office Building in The Woodlands

Realty News ReportMay 19, 2025

Demand for Vacation Homes Nosedives

Realty News ReportMay 19, 2025

DC Partners Adds Kimpton Hotel to Fredericksburg Project

Realty News ReportMay 17, 2025May 17, 2025

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Search News

CommGate
new version
ECD-RealtyNewsReport-Ad-300x250
Partners Ad
CBRE Ad
Arch Con Corporation Ad
Hines Ad
Avera Ad
RNR Ad 030124
Ziegler Cooper Ad
Lee & Associates Ad
2021 Realty News Report Ad
RNR - Lincoln Property Company
Hal Gordon - Property Tax Lawyer
Hunington Ad
230725-RNR_Digital-Ad_Red
Hunington Ad

Let's Connect

logo
About US
Author Ralph Bivins is editor of Realty News Report, which covers regional and national news. Bivins recently received the Gold Award for Best Column in the National Association of Real Estate Editors Journalism Competition. Contact us
Follow us
FacebookLinkedinYoutubeEmail
@2022 All Right Reserved. Powered by CGS Digital Marketing
REALTY NEWS REPORT - Logo
FacebookLinkedinYoutubeEmail
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact