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Avison Young releases Third Quarter 2021 Office Insight Report for HoustonOctober 6, 2021
Renewals are a large part of leasing activity
Houston, TX – Avison Young today released its Third Quarter 2021 Office Market Report for Houston. Leasing activity has paused, decreasing by 38.3% compared with long-term historical averages.
“The office sector continues to struggle,” said Rand Stephens, Principal and Managing Director of the firm’s Houston office. “The highest quality office buildings have done the best in this downturn which bodes well for new construction and those older buildings that can be successfully renovated and updated.”
The flight-to quality trend persists, with the Class A and Trophy segment accounting for 61.7 percent of all leasing activity during the last two years.
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For more information:
– Rand Stephens, Principal & Managing Director, Houston: +1.713.993.7810