Houston Office Marketplace
Aus Salespoint
The downtown Houston workplace marketplace is a hot topic these days. Current months have observed a flurry of activity, no matter jobs in las vegas nv whether it be leases, move-outs, or acquisitions. Its no secret that the downtown market continues to be plagued by typical vacancies painfully close to 20% and stagnant rents. With the believed that things will enhance in the close to future, investors have been purchasing properties in earnest. The fourth quarter news was encouraging, notably EPCO, Inc.s acquisition of 1100 Louisiana, a creating in which they have subsequently occupied 300,000 square feet. Also, Wells Genuine Estate Funds paid the highest per-square-foot price tag in the Houston workplace markets history ($286 psf) for five Houston Center. Rumor has it that ChevronTexaco is interested in buying the remaining vacant former Enron building, even though other power businesses have begun to reclaim shadow space downtown.
Unfortunately, the Central Enterprise Districts recovery is something but a slam dunk. Two significant tenants, Burlington Resources and Bank One particular, are expected to vacate CBD space in 2006 immediately after acquisitions by ConocoPhillips and Chase, respectively. In the very same developing Burlington is expected to vacate, Calpine baltimore teaching jobs Corp. reduced the amount of space they lease and subsequently lost naming rights to the former Calpine Center, now known by its address, 717 Texas.
Concerns still stay about when the sales jobs in chicago downtown workplace market place will see a substantial improvement. It did not happen with the current influx of New Orleans office tenants, as some believed it would. Even so, powerful job growth has a lot of authorities predicting a healthy 2006 for the Houston workplace market overall, and with the positive fourth quarter numbers, it appears the marketplace is moving in the correct direction.
The office market had a comparatively powerful showing in the fourth quarter, absorbing 414,678 square feet (SF), the markets highest quarterly absorption figure since the third quarter of 2004. Classes A and C reported positive absorption for the quarter, while all classes reported positive annual absorption, bringing general annual absorption to 737,259 SF.
