NAI Partners Sublease Index remains below 10%.
The NAI Partners Sublease Index—measured by the amount of sublease space as a percentage of total available space—registered at 9.4% as of October 30, 2020, up 10 basis points from Q3 2020 at 9.3%. The Sublease Index has remained below 10% for the entirety of 2020 thus far—a far cry from its 19.7% peak back in Q3 2016.
The total amount of available space (all space available regardless of whether it is vacant) in the Houston Office market is 67.2 million sq. ft. Available Class A space represents 59% of that total, and Class B represents 38%.
Houston’s office market saw sublease space decrease gradually during the first half of 2020, before rising in Q3 2020 to 6.2 million sq. ft., and up to 6.3 million sq. ft. as of October 30, 2020. After months of low oil and gas prices driven by weak demand, and the economic fallout from the COVID-19 pandemic, uncertainty
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