{"id":1004770060,"date":"2025-09-02T03:39:23","date_gmt":"2025-09-02T11:39:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004770060"},"modified":"2025-09-09T09:54:47","modified_gmt":"2025-09-09T17:54:47","slug":"houstons-office-fundamentals-stay-strong","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/houstons-office-fundamentals-stay-strong\/","title":{"rendered":"Houston&#8217;s Office Fundamentals Stay Strong"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Houston\u2019s office sector held steady during the first seven months of the year, according to Yardi Research Data. The metro showed strong fundamentals in terms of development and investment activity despite lagging most of its peers when it came to the average sale price per square foot.<\/p>\n\n\n\n<p>Meanwhile, the market saw the largest year-over-year vacancy rate decline in the U.S. as of July, dropping 270 basis points to 20.8 percent. However, the metro\u2019s rate still remained above the national figure. <\/p>\n\n\n\n<p>On the plus side, Texas lawmakers recently passed Senate Bill 840, a measure designed to facilitate housing construction by easing restrictions on converting underutilized commercial properties into residential apartments. This will both help the housing market and reshape the metro\u2019s office sector.<\/p>\n\n\n\n<iframe title=\"Top Markets for Office Development\" aria-label=\"Table\" id=\"datawrapper-chart-01b0v\" src=\"https:\/\/datawrapper.dwcdn.net\/01b0v\/2\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"542\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}})}();\n<\/script>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-houston-s-pipeline-ranks-high-nationally\">Houston\u2019s pipeline ranks high nationally<\/h2>\n\n\n\n<p>Houston\u2019s office development pipeline as of July reached 1.6 million square feet, representing 0.7 percent of total stock and ranking in the top 10 nationally. This figure was slightly above the 0.6 percent U.S. threshold. Among peers, Houston surpassed Philadelphia (1.2 million square feet), but lagged the other southwestern markets\u2014Austin (2.6 million square feet) and Dallas (2.6 million square feet).<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a2d212e99ef2&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1215\" height=\"911\" data-attachment-id=\"1004770125\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/houstons-office-fundamentals-stay-strong\/md-anderson-building-5\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/MD-Anderson-Building-5.jpg\" data-orig-size=\"1215,911\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"MD Anderson Building 5\" data-image-description=\"&lt;p&gt;Image included in the following press release: https:\/\/www.mdanderson.org\/newsroom\/md-anderson-expands-breakthrough-research-campus-with-groundbreaking-innovative-new-facility.h00-159621801.html&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;MD Anderson Cancer Center&#8217;s Building 5 will come online in 2027. Image by Elkus Manfredi Architects, courtesy of MD Anderson&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/MD-Anderson-Building-5.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/MD-Anderson-Building-5.jpg\" alt=\"Exterior rendering of MD Anderson Cancer Center's Building 5\" class=\"wp-image-1004770125\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/MD-Anderson-Building-5.jpg 1215w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/MD-Anderson-Building-5.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/MD-Anderson-Building-5.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/MD-Anderson-Building-5.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1215px) 100vw, 1215px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">MD Anderson Cancer Center&#8217;s Building 5 will come online in 2027. <em>Image by Elkus Manfredi Architects, courtesy of MD Anderson<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>When adding planned and prospective projects, Houston\u2019s pipeline clocked in at 2.1 percent, on par with the U.S. average. Austin (6.1 percent) had the largest share nationally, while peer metros Philadelphia (2 percent) and Phoenix (1 percent) stayed behind.<\/p>\n\n\n\n<p>Meanwhile, construction starts amounted to 651,394 square feet across 15 properties, Yardi Research Data shows. Houston ranked third among its peers after Austin and Dallas, each with 1 million square feet of new development.<\/p>\n\n\n\n<p>One of the projects currently underway in the metro is MD Anderson Cancer Center\u2019s South Campus Research Building 5. The seven-story facility spanning about 600,000 square feet broke ground in 2023 and is set to come online in 2027.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-completions-drop-sharply-year-over-year\">Completions drop sharply year-over-year<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a2d212e9a977&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignleft size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1589\" height=\"1192\" data-attachment-id=\"1004753773\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/ashford-office-portfolio-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Ashford-Office-Portfolio-edited.jpg\" data-orig-size=\"1589,1192\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1684865309&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Ashford Office Portfolio\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Ashford Office Portfolio comprises three eight-story buildings completed between 1980 and 1982. Image courtesy of JLL&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Ashford-Office-Portfolio-edited.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Ashford-Office-Portfolio-edited.jpg\" alt=\"Aerial view of the Ashford Office Portfolio in Houston\" class=\"wp-image-1004753773\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Ashford-Office-Portfolio-edited.jpg 1589w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Ashford-Office-Portfolio-edited.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Ashford-Office-Portfolio-edited.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Ashford-Office-Portfolio-edited.jpg?resize=1024,768 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Ashford-Office-Portfolio-edited.jpg?resize=1536,1152 1536w\" sizes=\"auto, (max-width: 1589px) 100vw, 1589px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The Ashford Office Portfolio comprises three eight-story buildings completed between 1980 and 1982.<em> Image courtesy of JLL<\/em><br><\/figcaption><\/figure><\/div>\n\n\n<p>In the first seven months of this year, Houston\u2019s <a href=\"https:\/\/www.commercialsearch.com\/news\/top-markets-for-office-deliveries\/\">office completions<\/a> totaled just 619,020 square feet across seven properties. This figure is less than half the one registered during the same interval of last year.<\/p>\n\n\n\n<p>Among peer metros, Austin (399,578 square feet) and Atlanta (373,340 square feet) had less space delivered, while Dallas (1.2 million square feet) and Charlotte (1 million square feet) performed better.<\/p>\n\n\n\n<p>One of the larger facilities to come online year-to-date through July was Welltower\u2019s 256,452-square-foot at 8503 N. Sam Houston Parkway E. in Humble, Texas. The medical office building rises five stories.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-office-prices-well-behind-national-threshold\">Office prices well behind national threshold<\/h2>\n\n\n\n<p>Houston\u2019s office investment volume year-to-date as of July amounted to $774 million. Assets in the metro traded for just $96 per square foot on average, almost half the national threshold of $182 per square foot.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a2d212e9b4ac&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1335\" height=\"1000\" data-attachment-id=\"1004657214\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jmb-realty-secures-158-ksf-in-houston-office-leases\/photography\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Building-Exterior-1-e1681380300690.jpg\" data-orig-size=\"1335,1000\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;16&quot;,&quot;credit&quot;:&quot;Joe Aker&quot;,&quot;camera&quot;:&quot;Canon EOS 5DS&quot;,&quot;caption&quot;:&quot;Photography&quot;,&quot;created_timestamp&quot;:&quot;1622143501&quot;,&quot;copyright&quot;:&quot;\\u00a9 2021 AKER IMAGING&quot;,&quot;focal_length&quot;:&quot;17&quot;,&quot;iso&quot;:&quot;200&quot;,&quot;shutter_speed&quot;:&quot;0.003125&quot;,&quot;title&quot;:&quot;Photography&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"1001 Fannin\" data-image-description=\"&lt;p&gt;1001 Fannin. All images courtesy of Cushman &#038; Wakefield&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;1001 Fannin. All images courtesy of Cushman &#038; Wakefield&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Building-Exterior-1-e1681380300690.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Building-Exterior-1-e1681380300690.jpg\" alt=\"1001 Fannin. All images courtesy of Cushman &amp; Wakefield\" class=\"wp-image-1004657214\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Building-Exterior-1-e1681380300690.jpg 1335w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Building-Exterior-1-e1681380300690.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Building-Exterior-1-e1681380300690.jpg?resize=768,575 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Building-Exterior-1-e1681380300690.jpg?resize=1024,767 1024w\" sizes=\"auto, (max-width: 1335px) 100vw, 1335px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The 1001 Fannin high-rise totals 1.3 million square feet. <em>Image courtesy of Cushman &amp; Wakefield<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Among peer markets, Dallas ($1.2 billion) and Atlanta ($832 million) registered higher sale volumes, while Phoenix ($487 million) and Austin ($343 million) were at the opposite end of the spectrum.<\/p>\n\n\n\n<p>In one of the largest deals of the seven-month period, a joint venture between Meneses Holdings and Dominus Commercial acquired Brookhollow Central, a three-building office campus totaling about 806,000 square feet in Houston&#8217;s North Loop. Hertz Investment Group sold the asset for $58.4 million.<\/p>\n\n\n\n<p>Another notable transaction involved <a href=\"https:\/\/www.commercialsearch.com\/news\/local-consortium-buys-houston-office-campus\/\">a three-property office campus<\/a> within the Energy Corridor. The 570,045-square-foot complex comprises eight-story buildings completed in the 1980s. A consortium led by a Houston-area family office purchased the asset that had been sent to special servicing after its owner, Accesso Partners, failed to pay off the balance of a $60.9 million loan.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-largest-office-vacancy-rate-decline-in-the-u-s\">Largest office vacancy rate decline in the U.S.<\/h2>\n\n\n\n<p>Houston\u2019s office vacancy rate as of July was 20.8 percent, above the 19.4 percent national figure, but 270 basis points lower year-over-year. This was the largest decline in available space among top markets. Houston\u2019s <a href=\"https:\/\/www.commercialsearch.com\/news\/return-to-office-update-cities-closing-the-post-pandemic-gap\/\">office visits<\/a> in the same month were 25.6 percent down when compared to 2019, behind the average 21.8 percent drop across the U.S. <\/p>\n\n\n\n<p>Peer metros such as Charlotte (17.7 percent) and Atlanta (19.9 percent) had lower vacancy rates, while Dallas (22.9 percent) and Austin (27.2 percent) fared worse.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a2d212e9c0e0&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignleft size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"1262\" data-attachment-id=\"1004749156\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hines-ivanhoe-land-450m-refi-for-houston-trophy-tower\/texas-tower_002\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Texas-Tower_002.jpg\" data-orig-size=\"1200,1262\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Texas-Tower_002\" data-image-description=\"&lt;p&gt;Image received vie e-mail from Newmark&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The 47-story Texas Tower was 95 percent leased at the time of the deal. Image courtesy of Newmark&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Texas-Tower_002.jpg?w=974\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Texas-Tower_002.jpg\" alt=\"Exterior shot of Texas Tower\" class=\"wp-image-1004749156\" style=\"width:350px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Texas-Tower_002.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Texas-Tower_002.jpg?resize=285,300 285w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Texas-Tower_002.jpg?resize=768,808 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Texas-Tower_002.jpg?resize=974,1024 974w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Completed in 2021, the 47-story Texas Tower has floorplates ranging from 30,438 to 31,255 square feet. <em>Image courtesy of Newmark<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Earlier this year, <a href=\"https:\/\/www.commercialsearch.com\/news\/jmb-realty-inks-hq-renewal-in-houston\/\">JMB Realty renewed<\/a> a 55,082-square-foot lease at 1001 Fannin in downtown Houston. Oil and gas company Black Stone Minerals had been at the property for more than 30 years and continues to use the location as its headquarters.<\/p>\n\n\n\n<p>The metro witnessed new leases as well in the first seven months of this year. Law firm Skadden, Arps, Slate, Meagher &amp; Flom <a href=\"https:\/\/www.commercialsearch.com\/news\/hines-ivanhoe-land-52-ksf-tenant-in-houston\/\">signed a long-term commitment<\/a> for 52,000 square feet at Texas Tower, the 1 million-square-foot high-rise owned by Hines and Ivanho\u00e9 Cambridge. The building came online in 2021.<\/p>\n\n\n\n<p>Houston\u2019s average listing rate in July was $27.6, dropping 7.6 percent year-over-year. The figure was below the $32.7 U.S. average and the values recorded in peer metros such as Austin ($45.6), Charlotte ($35.7) and Dallas ($31.9). <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-coworking-footprint-holds-steady\">Coworking footprint holds steady<\/h2>\n\n\n\n<p>Houston\u2019s coworking inventory as of July totaled 4.5 million square feet across 227 locations. The amount accounts for 1.8 percent of the metro&#8217;s total office stock, below the national 2.0 percent. <\/p>\n\n\n\n<p>Atlanta (4.8 million square feet) and Dallas-Fort Worth (5.2 million square feet) had a larger shared-space footprint among Houston&#8217;s peers, while Austin (1.8 million square feet) and Charlotte (1.5 million square feet) trailed behind.<\/p>\n\n\n\n<p>Regus remained the provider with the most coworking space in the metro, with 616,718 square feet across 37 locations. The Cannon (444,341 square feet) and Workstyle Flexible Offices (404,531 square feet) rounded out the top three, followed by Spaces with 285,251 square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The metro remains one of the top U.S. markets for development and sales.<\/p>\n","protected":false},"author":3355,"featured_media":1004770125,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,1589,22251,21783,52420,21742,21747,51973],"tags":[51047],"class_list":["post-1004770060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-houston","category-in-focus","category-investment","category-market-updates","category-latest","category-office","category-southwest","tag-marketupdate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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