The Woodlands’ office submarket remains positive during the first quarter with flat vacancy and positive absorption, while other Houston office submarkets continue to see high vacancy and negative net absorption. Over the quarter, The Woodlands’ average vacancy rate decreased by 40 basis points and leasing activity remained steady.
Construction continues on CityPlace in Springwoods Village where tech giant HP Inc. preleased 378,000 SF and American Bureau of Shipping preleased 326,800 SF of office space. Completion of the buildings is expected in the latter part of 2018.
The average quoted rental rates are a mix of direct and sublet rates and are based on a blend of gross and NNN. The graphs below are
only intended to show rental rate trends. Actual gross rates are higher than the average rate shown in the graph.
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