The Woodlands’ office submarket continues to be a bright spot among Houston
The Woodlands’ office submarket has been a bright spot among Houston submarkets during the past several years. Most of Houston’s submarkets have seen rising vacancy and negative net absorption, while The Woodlands’ submarket has experienced quite the opposite. Over the quarter, The Woodlands’ average vacancy rate decreased by 60 basis points. Leasing activity remained steady and net absorption was positive.
Construction continues on CityPlace in Springwoods Village where tech giant HP Inc. preleased 378,000 SF and American Bureau of Shipping leased 326,800 SF of office space. Completion of the buildings is expected in the latter part of 2018.
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