Houston leasing activity uptick as West Houston outperforms

The Houston office market saw an uptick in leasing activity in Q1 2024, compared to the prior quarter, reporting 2.3 million square feet (msf). This represents a 16% increase quarter-over-quarter, however, a 5.7% decrease, year-over-year. West Houston continues to outperform as companies look to relocate to be closer to their workforce. Four of the largest transactions in Q1 2024 occurred in West Houston including Noble Corporation leasing 110,000 square feet (sf) at CityWest Place, Fluor leasing 104,000 sf at Two Eldridge, BMC Software leasing 77,200 sf, as well as Enstor leasing 43,000 sf, both at CityWest Place. Additionally, West Houston accounted for approximately 50% of the leasing activity in the overall Houston office market in Q1 2024.

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