Despite growing concerns over COVID-19 Delta variant, Houston office market saw little change, yet tenant favorability continues

As the COVID-19 Delta variant accelerated, some major companies such as Microsoft and Wells Fargo, pushed initial return-to-office plans from post-Labor Day to at least the first week of October, and some to next year. However, the growing apprehension has had minimal effect on the market and softening has begun to slow. Houston has now seen three consecutive quarter of increasing leasing volume, which totaled more than 2.4 million square feet (msf) in Q3. Still, with availability at 31.4% and asking rents holding flat at $29.06 per square foot (psf), the market remains incredibly tenant-favorable as occupiers have an abundance of options to choose from.

Read the full report