Q2 2021 | The Woodlands Office Submarket Snapshot

eTradeWire News/10639215
The Woodlands office market vacancy rate decreased from 16.8% to 16.4% over the quarter, but is still well under the Houston Metro and Houston CBD average vacancy rates of 23.0% and 25.7%, respectively.

HOUSTON - eTradeWire -- Q2 2021 | The Woodlands Office Submarket Snapshot

Key Takeaways
  • Leasing activity increased on a quarterly basis
  • Vacancy fell over the quarter by 40 basis points
  • Absorption increased during Q2 2021
  • Rental rates increase between quarters

Highlights

The Woodlands office market vacancy rate decreased from 16.8% to 16.4% over the quarter, but is still well under the Houston Metro and Houston CBD average vacancy rates of 23.0% and 25.7%, respectively. The submarket recorded 66,900 square feet of positive net absorption in Q2 2021. The average asking rental rate increased from $34.82 per SF in Q1 2021 to $35.82 per SF in Q2 2021 and the average Class A rental rate increased from $36.52 per SF to $37.11 per SF. Construction activity remained steady between quarters and leasing activity increased.

More on eTradeWire News
Market Indicators, Historic Comparison, Market Fundamentals and Recent Transactions... To read The Woodlands submarket snapshot report, click here: https://www.colliers.com/en/research/houston/q2-2021-the-woodlands

Contact
Lisa Bridges | Director of Market Research
***@colliers.com


Source: Colliers International | Houston
Filed Under: Real Estate

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