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Q2 2021 | E Fort Bend Commercial Real Estate Trends

Rezul News/10537913
HOUSTON - Rezul -- Key Takeaways
  • Office vacancy increases, but so does leasing activity
  • Medical office vacancy increases and average rents drop
  • Industrial vacancy increases as new inventory delivers
  • Retail records negative net absorption and vacancy increases

Office Highlights
The E Fort Bend office submarket contains 6.0M SF of office space. The submarket continued to contract and posted 59,580 SF of negative net absorption in Q2 2021. The average vacancy rate increased from 17.8% to 18.6% over the quarter. The average quoted gross rental rate decreased over the quarter from $31.21 to $30.92 per SF, and leasing activity increased over the quarter by 12.5%. There are currently no buildings under construction in the submarket.

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Medical Office Highlights
The E Fort Bend medical office submarket contains 2.2M SF of medical office space. The submarket recorded 446 SF of positive net absorption in Q2 2021, an improvement over the previous quarter's negative net absorption of 15,050 SF. Leasing activity increased over the quarter, recording... To read the full report, click here: https://www.colliers.com/en/research/houston/q2-2021-fort-bend

Lisa Bridges | Director of Market Research

Source: Colliers International | Houston
Filed Under: Real Estate

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