Once again, Houston has expanded beyond our traditional definitions. CBRE’s Sara Rutledge says the firm has created the North office submarket, pulling properties from The Woodlands and FM 1960/Highway 249 submarkets. The new North submarket has 12 office buildings totaling 958k SF and is 90% occupied. It’s booming, driven by the Exxon campus and Grand Parkway expansion—3.8M SF is under construction there. CB also redefined the Kingwood submarket (extending it to the north for the Grand Parkway expansion and south to include Generation Park) and The Woodlands. (It’s shifted north.) The addition comes one year after CBRE created the West Belt and Far West submarkets.
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