By Terrie Smith
The Woodlands office, one of Houston’s best performing submarkets in terms of demand finished 2018 with a positive absorption and a total vacancy rate of 10.6%, leading all Houston area submarkets in terms of demand over the past year. In Q1 2019, The Woodlands boasted a vacancy rate of 9.1%, one of the lowest out of the five largest submarkets in the Houston metro by total inventory.
Currently under construction is approximately 280,000 sf of office space, a large percentage comprised of CityPlace 1 and 2 in Springwoods Village, expected to be deliver by mid-2019. An additional 568,000 sf Hewlett Packard Enterprise campus is scheduled to begin construction in late 2019 in Springwoods Village.
Long term, The Woodlands office is poised to remain one of the strongest submarkets in the Houston metro.
ABOUT FOLDETTA COMMERCIAL
Foldetta Commercial provides comprehensive leasing services for office buildings, industrial sites, medical facilities, retail shopping centers, flex-office/warehouse and mixed-use developments. We also offer asset management to protect long-term investment value.
We are here for buyers, sellers, landlords and tenants to assist in acquisitions, dispositions, site selection and more. We serve both large and small needs, single transactions and entire portfolios. From start-ups to successful enterprises we focus on growth and sustainability for each client and terms and investigate multiple levels of possibilities for our clients which enables us to provide critical perspective for the evaluation of facility and construction issues.
ABOUT TERRIE SMITH
Terrie, a native Houstonian, has been involved in commercial real estate for 30+ years. She has gained extensive knowledge, disciplines, challenges and opportunities through acquisition, disposition, management and leasing of investment properties including retail, office and industrial/flex. Terrie has additional knowledge with bank owned (ORE) properties, land sales, Tenant Representation and site selection. For more information about Terrie or to contact her, please Click Here.