News Item - Houston
Avison Young releases Third Quarter 2021 Office Insight Report for HoustonOctober 6, 2021
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.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2021 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 10 consecutive years.
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For more information:
– Rand Stephens, Principal & Managing Director, Houston: +1.713.993.7810