Vacancy Downtown Houston Office Market

The CDB leasing activity led to a 90 basis points (bps) vacancy drop to 17.2% from 18.3% one year ago. The brisk leasing activity is being fueled by the stronge robust growth in the energy industry, which represents 50% of the Houston economic base and causing the current expansion also of insular industries in Law, Accounting and Job Staffing companies. Current market searching tenants should have their tenant rep. brokers lock into favorable rates on quality class 'A" space while the market bare and allow. Among property types, class "A" space continues to lead in occupancy gains. Third quarter CDB class "A" vacancy rates droped 470 bps to 16.3% from 21.0% a year ago. Suburban class 'A" rates also dropped from 14.1% to 11.9% in the third quarter.
EXPECTED ALL CLASS RATE TO CLIMB IN 2007!!!!! LOCK IN NOW CURRENT FAVORABLE RATES BEFORE HOUSTON RATES CATCH UP WITH THE REAT OF THE MAJOR U.S. MARKETS.

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