At the risk of beating a dead horse, the Houston office market is not great. There are 108 blocks of 100k-plus SF available marketwide. At Q2, total vacancy was 18.5% and total availability was 26.6%, meaning over one in four floors is available for lease. The impact of the energy sector is crystal clear when you look at the 10 largest available office blocks—all but two are former energy company space.
800 Bell
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Size: 1.3M SF
Class: B
Submarket: CBD
Type: Relet
Availability: Vacant
Vacated Tenant: Exxon Mobil
609 Main
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Size: 608k SF
Class: A
Submarket: CBD
Type: New
Availability: Q1 2017
Vacated Tenant: N/A
Energy Center IV
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Size: 598k SF
Class: A
Submarket: The Energy Corridor
Type: Sublet
Availability: Vacant
Vacated Tenant: Conoco Phillips
Four Westlake
)
Size: 559k SF
Class: A
Submarket: Energy Corridor
Type: Sublet
Availability: Q1 2017
Vacated Tenant: BP
Energy Center V
)
Size: 524k SF
Class: A
Submarket: Energy Corridor
Type: New
Availability: Vacant
Vacated Tenant: N/A
Six Greenspoint Place
)
Size: 356k SF
Class: A
Submarket: Greenspoint
Type: Relet
Availability: Q4 2016
Vacated Tenant: Exxon Mobil
One Shell Plaza
)
Size: 350k SF
Class: A
Submarket: CBD
Type: Sublet
Availability: Negotiable
Vacated Tenant: Shell
Five Greenspoint Place
)
Size: 336k SF
Class: A
Submarket: Greenspoint
Type: Relet
Availability: Vacant
Vacated Tenant: Exxon Mobil
Four Oaks Place
)
Size: 320k SF
Class: A
Submarket: Galleria
Type: Sublet
Availability: Negotiable
Vacated Tenant: BHP Billiton
Republic Square
)
Size: 320k SF
Class: B
Submarket: Energy Corridor
Type: Relet
Availability: Vacant
Vacated Tenant: Exxon Mobil
A special thanks to Rachel Alexander at JLL for compiling the data.
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