Houston's occupancy rate is being buoyed by large-scale institutional ownership sitting on millions of empty square feet across the city. We tracked down the eight largest subleases set to expire in the next 24 months that could put a serious dent in Houston's occupancy.
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Data from Transwestern shows the eight largest subleases expiring in the next two years total over 1.5M SF of potential direct vacancy. Half of them are owned by either ExxonMobil or Phillips 66, and all but one are energy tenants.
Three Greenspoint Place - 233 Benmar Drive - Greenspoint
Tenant: ExxonMobil
Size: 253K SF
Months Remaining: 12
Three Westlake Park - 550 Westlake Park Blvd. - Katy Freeway West
Tenant: Phillips 66
Size: 222K SF
Months Remaining: 20
Pinnacle Westchase - 3010 Briar Park Drive - Westchase
Tenant: Phillips 66
Size: 210K SF
Months Remaining: 24
Northborough Tower - 100 Glenborough - Greenspoint
Tenant: Noble Energy
Size: 204K SF
Months Remaining: 10
Eight Greenspoint Plaza - 222 Benmar - Greenspoint
Tenant: ExxonMobil
Size: 198K SF
Months Remaining: 12
:quality(75))
Energy Center I - 585 North Dairy Ashford - Katy Freeway West
Tenant: Amec Foster Wheeler
Size: 183K SF
Months Remaining: 14
Three Northborough - 12707 North Freeway - Greenspoint
Tenant: FMC Technologies
Size: 151K SF
Months Remaining: 10
:quality(75))
Pennzoil Place North Tower - 700 Milam - CBD
Tenant: Freeport McMoRan
Size: 140K SF
Months Remaining: 14
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