Availability decreases, despite increasing options in Houston’s Central Business District
Overall market-wide availability in Houston is trending downward slightly, ending Q1 at 26.3% – a 100-basis-point decrease year-over-year. Still, the market continues to exhibit predominantly tenant-positive fundamentals and there are 18 buildings with blocks of contiguous space larger than 100,000 square feet (sf) available in the Central Business District (CBD) submarket. Overall availability in the CBD has increased by 130 basis points year-over-year to 29.3%. With some tightening outside of the CBD, non-core availability rates have decreased more than 150 basis points year-over-year, settling at 25.6%.