The average rent for space in a downtown tower is $47.43 per square foot, putting Houston in the top 10 of the nation’s most expensive office markets, according to a commercial realty firm. The national average is $43.79 per square foot.<\/p>\n
Despite downtown’s strong rents, the report notes how Houston’s sublease glut and “economic freeze” is pushing down rents in buildings across the area:<\/p>\n
“Altogether, more than 12 million square feet of space has hit the market in the past two years alone. Law firms and professional service tenants seeking quality space are taking high-priced blocks off the market, but that’s leaving available space with no short-term tenant demand.”<\/p><\/blockquote>\n
The most expensive U.S. market is New York City where the average rent is $86.75 per square foot.<\/p>\n
Source: Chron.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
The average rent for space in a downtown tower is $47.43 per square foot, putting Houston in the top 10 of the nation’s most expensive office markets, according to a commercial realty firm. The national average is $43.79 per square foot. Despite downtown’s strong rents, the report notes how Houston’s sublease glut and “economic freeze”\u2026 Read More »<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,15,11],"tags":[113],"class_list":["post-930","post","type-post","status-publish","format-standard","hentry","category-city","category-international","category-others","tag-office-rents"],"_links":{"self":[{"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/posts\/930","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/comments?post=930"}],"version-history":[{"count":1,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/posts\/930\/revisions"}],"predecessor-version":[{"id":931,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/posts\/930\/revisions\/931"}],"wp:attachment":[{"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/media?parent=930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/categories?post=930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/tags?post=930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}