Houston Office Space: Smaller Spaces Seeing Higher Demand
May 23, 17
Do you have a smaller Houston office space -- between 5,000 - 10,000 square feet -- that you're looking to lease? If so, your future looks bright. According to a November 23 article in the Houston Business Journal, in spite of an overall downturn in occupancy and a decrease in rental rates, the demand for smaller office space has seen a resurgence. In fact, the article noted, the need for that size of office space has remained fairly steady.
It is true that the energy companies are suffering, which is in turn causing other business markets to suffer. However, the outlook is not bleak for everyone. The medical office sector is growing in the metropolitan area and is pushing growth in other office markets as well. And the downturn isn't hitting all areas of Houston the same. In Sugar Land, the article stated, the rents aren't decreasing. Nor are they in some parts of the Galleria.
In all, landlords can expect things to slowly start getting better for the energy sector and beyond in the next few years, the article stated. It may take a while, but retail sales are improving -- showing a light at the end of the downturn tunnel.
Regardless of the size of office space you own in the Houston area, we can help you to find a tenant. We combine our knowledge of the area, our expertise in all aspects of commercial real estate, and our ability to come up with creative solutions to find you the best tenant for your property. Are you ready to have your office space filled? Contact us to get started.