Office Market

The Fort Bend office submarket posted 38,962 SF of positive net absorption in Q1 2020. The average vacancy rate decreased to 10.9% from 11.8% over the quarter. The average quoted rental rate increased from $29.55 to $30.97 per SF and leasing activity decreased over the quarter by 72%. There are three buildings totaling 105,300 SF under construction. The largest building under construction is a 56,000-SF expansion for the Houston Community College System, located on W Airport Blvd. The building is expected to deliver in May 2020.

Medical Office Market

The average quoted rental rate decreased over the quarter from $28.00 to $27.61 per SF. The average vacancy rate fell 200 bps to 15.3% from 17.3% in Q4 2019. Leasing activity declined by 28% over the quarter. Currently, there are no properties under construction.

Industrial Market*

Although the submarket recorded 432,086 SF of positive net absorption during Q1 2020, vacancy still increased due to the completion of new buildings that were added to inventory. The addition of the unleased portion (78%) of 1.3M SF of new inventory increased... Click here to read the full report.