Houstons top 5 submarkets for office leasing activity in 2023 so far - United States
Houston's top 5 submarkets for office leasing activity in 2023 (so far)
Houston's office market has seen an uptick in leasing activity during the first half of 2023, with 3.3 msf leased and 37.8% of the leasing volume taking place in the Energy Corridor submarket by tenants leasing 10k sf or more.
Leasing velocity within the Energy Corridor submarket has accelerated in recent quarters, with several large transactions over 100k sf completed by engineering and energy-related firms, including Fluor, Kiewit Engineering, Wood Group, Technip Energies and Modec International.
The Energy Corridor is the third largest office submarket in Houston and is home to a large concentration of engineering and energy-related firms, with both of these sectors representing 35.1% of Houston’s overall leasing activity year-to-date.