NAI Partners’ Q4 2018 Press Breakfast was held this past Wednesday, and one of the stories that stemmed from the event was Bisnow’s just-published “Boutique Office Buildings Dominating The Development Pipeline In Houston,” featuring our own Taylor Wright, Vice President in the Office Tenant Rep group, and numerous statistics from our recent research reports.
Downtown high-rise groundbreakings have been grabbing headlines, but they don’t really tell the story of office development in Houston right now. The metro has 3.3M SF of office space under construction. Skanska’s Capitol Tower and Hines’ Texas Tower make up about 60% of that space. The remaining portion is comprised of 68 boutique office building ranging between 3K SF and 200K SF, according to CoStar data provided by NAI Partners.
Suburban development is leading the way to satisfy a demand from business executives who want to work closer to where they live and other amenities such as mixed-use, retail and restaurants.
“The idea is to attract a certain type of tenancy opposed to a build-to-suit for a traditional [energy] user,” NAI Partners Vice President Taylor Wright said.
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