Houston Office Sublease Digest

SUBLEASE DIGEST

Houston Office


JANUARY 2017

Sublease availability ceases to increase and maintains its plateau as we move into 2017 with 11.8 million sq. ft.
 

Sublease Digest Houston Office chart legend

Sublease Digest Houston Office chart

Highlights

From a peak of 12.4 million sq. ft. in Q3 2016, sublease availability is down to 11.8 million sq. ft. early in Q1 2017.

Down from a 20.4% peak in Q2 2016, sublease space as a percent of total availability of Class A and B buildings is 19.6%. Most sublease space remains in Class A buildings, for which 26.9% of total availability is sublet; this is down from 28.0% in Q2 2016.

Sublease availability had a modest impact on Class B space, peaking at 10.5% of total availability in Q2 2016 and currently at 9.8% of total availability.

More than 85% of sublease availability is in buildings with 50,000 sq. ft. or more of sublease space.

Sublease Digest Houston Office table

Sublease availability for quarter to date for Q4 2016 in rentable building area (RBA) and as percent (%) of total available space (sublease RBA divided by total available RBA). Direct availability is 100 minus % sublease availability. Quarter-over-quarter (QoQ) shows percent change since last quarter. The last column “Since Q3 2014” shows percent change since the oil downturn began to manifest in the office market. Data Source: CoStar; NAI Partners Analytics

 

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