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Five Fast Facts: Houston Office Real Estate Q4 2020

Mary Doetterl • 1/27/2021
Houston’s office market contracted by 4.4 million square feet (msf) in 2020, with 15 of the 18 submarkets posting negative absorption for the year. Despite market uncertainty and falling occupancy, rental rates held steady.

Overall vacancy jumped 300 basis points year-over-year to 24.3% as additional energy-related bankruptcies, mergers and acquisitions and layoffs left large blocks of available space behind. Available sublease space increased 12.8% year-over-year to 7.0 msf in the fourth quarter as large blocks of sublease space continued to flood the office market.

Q4 2020 Houston office fast facts