Q1 2022 Houston Office Market Report

Houston’s office market is showing early signs of recovery but continues to face its fair share of challenges. Leasing volume improved during 2021, with volumes up 8% compared to 2020. And total number of leases signed reached a record high last year. Net absorption has been positive since 21Q3. In the absence of strong leasing demand from the oil and gas industry, other sectors stepped in to account for more than two-thirds of new leasing activity during that time. In this environment, life sciences have taken center stage, accounting for some of Houston’s most eye-popping new developments and lease transactions.

Houston - TX-Office-Market-2022-04-271.pdf