The Woodlands office submarket performed well over the quarter, posting 124,966 SF of positive net absorption in Q3 2018. The average vacancy rate continued to decrease, dropping from 9.8% in Q2 2018 to 9.1%.

There has been increased leasing activity in the Woodlands market and we expect that there will continue to be more activity through the end of the year. Worksuites, a coworking company, leased 30,355 SF and moved into 2001 Timberloch Place during the third quarter.

Construction continues on City Place 1 (1700 City Plaza Dr.) in Springwoods Village. The 5-story, 141,700 SF building with 122,600 sf of office space is estimated to be completed in Q2 2019. The Howard Hughes Corporation acquired the former CB&I campus and renamed the property Lake Front Circle.

Q3 2018 The Woodlands Market Indicators

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.

 Q3 2018 The Woodlands Rental Rates Class A and B

 

Q3 2018 The Woodlands Front Page Screenshot 2

 

 

 

Click here for full report. 

Q1 2018 Woodlands Market Indicators
 

Q1 2018 Woodlands Market Indicators