Q2 2021 | The Woodlands Office Submarket Snapshot

HOUSTON - Rezul -- Q2 2021 | The Woodlands Office Submarket Snapshot

Key Takeaways

• Leasing activity increased on a quarterly basis
• Vacancy fell over the quarter by 40 basis points
• Absorption increased during Q2 2021
• Rental rates increase between quarters

Highlights

The Woodlands office market vacancy rate decreased from 16.8% to 16.4% over the quarter, but is still well under the Houston Metro and Houston CBD average vacancy rates of 23.0% and 25.7%, respectively. The submarket recorded 66,900 square feet of positive net absorption in Q2 2021. The average asking rental rate increased from $34.82 per SF in Q1 2021 to $35.82 per SF in Q2 2021 and the average Class A rental rate increased from $36.52 per SF to $37.11 per SF. Construction activity remained steady between quarters and leasing activity increased.

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Market Indicators, Historic Comparison, Market Fundamentals and Recent Transactions... To read The Woodlands submarket snapshot report, click here: https://www.colliers.com/en/research/houston/q2-2021-the-woodlands