Click here to access complete statistics and broker commentaries. Diflucan No Rx, Houston’s commercial real estate market continues to achieve strong levels of absorption and construction activity as energy-related companies expand in proposed and under-construction projects, according to quarterly market research compiled by Commercial Gateway, the commercial division of the Houston Association of REALTORS®.
Houston Office Market
Office net absorption of 676,593 square feet occurred in the fourth quarter, bringing the year-to-date total to almost 3.4 million square feet, slightly below last year’s total of more than 3.5 million square feet. Class A buildings represented the bulk of absorption for the year at 3.5 million square feet. Class B buildings showed positive absorption for both the quarter and the year, while Class C properties ended both the quarter and year with negative absorption, which offset the solid positive for Class A overall. Diflucan interactions, Occupancies in new buildings completed in submarkets in the west, northwest and north sectors of the city contributed the most net absorption square footage. The largest single-building absorption for the year was Noble Energy’s move into its 497,447-square-foot, re-designed building in the Northwest, Diflucan No Rx. Buildings completed in 2013, which were all in the suburban submarkets, represented more than 2.5 million square feet, or 65.2% of the year’s total absorption. Major move-ins during the fourth quarter, all in the west area, include Geico’s 135,716 square feet in Mason Creek Office Center, where can i cheapest Diflucan online, Modec International’s 127,000 square feet and Atwood Oceanic’s 82,000 square feet in Energy Crossing II, Subsea’s 98,667 square feet and Houston Offshore’s 62,147 square feet in Westgate I, and in The Woodlands: Strike Energy’s 70,190 square feet and Layne Christensen’s 51, Diflucan from mexico, 152 square feet in One Hughes Landing.
Continuing with the momentum of previous quarters, the majority of move-ins for the quarter and the year represented leases signed 12-24 months ago in buildings located in key areas. Five submarkets accounted for more than 3.7 million square feet of absorption for the year, with the West submarket topping the list with 1.3 million square feet, followed by the Northwest at 764,580 square feet, the North/The Woodlands/Conroe submarket at 749,531 square feet, Uptown with 544, generic Diflucan,631 square feet and the Energy Corridor with 370,603 square feet. Diflucan No Rx, The Central Business District (CBD) did not fare as well, recording negative absorption in all classes for the year, but positive for the fourth quarter.
New buildings completed during the fourth quarter include seven of the 22 buildings completed year-to-date, accounting for 1.0 million square feet of the 3.9 million square feet added to the market this year. The largest buildings completed this quarter included Energy Crossing II at 321,508 square feet, Westgate I at 248,500 square feet and Westgate II at 186, Diflucan pharmacy, 375 square feet. As of fourth quarter, the 22 buildings completed in 2013 were collectively 79.8% leased with absorption totaling 2.5 million square feet. For the year, Energy Crossing II was the largest new building completed, followed closely by The Murphy Building, 320,000 square feet; BBVA Compass Plaza, 318,189 square feet; Granite Briarpark Green, Diflucan alternatives, 302,551 square feet; 3009 Post Oak, 302,536 square feet; and Research Forest Lakeside Building 4, 300,000 square feet. Also for the year, 16 of the 22 properties were located in the west or The Woodlands submarkets, Diflucan No Rx.
Twelve office projects totaling 4.8 million square feet broke ground during the fourth quarter, bringing the total under-construction building count to 61 buildings in 37 projects containing 14.1 million square feet. Low dose Diflucan, The majority of construction is still occurring in the west and north areas, but the CBD saw its first project, 609 Main at Texas, a Hines development, begin clearing land for actual construction to start in March. The largest projects to break ground include Phillips 66’s 1.2 million-square-foot campus in Westchase, Hines’ CBD project, and BHP Billiton’s 594,000-square-foot tower in Uptown. The west area, Diflucan australia, uk, us, usa, including the Energy Corridor submarket, boasts 11 projects totaling almost 3.6 million square feet, while The Woodlands/North submarket has nine projects totaling 4.9 million square feet under construction (includes 3.0 million square feet for ExxonMobil). Diflucan No Rx, Westchase has five projects totaling 2.0 million square feet under construction while the Northwest has three buildings totaling 996,000 square feet. The largest speculative buildings are Hines’ CBD building at 1.1 million square feet with no preleasing, Energy Center III at 547,628 square feet and completely pre-leased to Conoco Phillips, and Energy Tower IV, which offers 450, Generic Diflucan, 532 square feet and is 6% pre-leased.
The current 11.2% vacancy rate is an improvement from the 11.5% vacancy recorded during the same quarter a year ago and from last quarter’s 11.4%. Leasing activity has slowed but remains strong as many firms are negotiating expansion along with renewals.
Averaged weighted rental rates at $24.20 have increased 4.8% during the past year when compared to the same quarter a year ago. Class A rates have seen the largest increases, 4.6%, as supply tightens, Diflucan No Rx. Operating expenses will also be rising as property values continue their upward trend, and the increased taxes, based on the 30% or more assessed values, will be passed on to tenants.
Overall sublease space increased to 2.6 million square feet this quarter compared to 1.7 million square feet a year ago. Sublease space has seen gradual increases over the last year as tenants expanding opt to pay more and move into brand new office space; however, where can i order Diflucan without prescription, many of the better spaces are being leased quickly.
Houston Industrial Market
Houston’s industrial market continues to improve with strong positive net absorption of 3.2 million square feet, representing almost half of the total year’s 6.9 million square feet, according to statistics released by Commercial Gateway. Diflucan No Rx, This year’s absorption is slightly above 2012’s 6.2 million square feet of absorption, which continues to validate the strength of Houston’s industrial market. This quarter’s absorption represents the16th consecutive quarter -- four years -- of positive absorption. Vacancy overall is 7.1%, slightly down from last quarter’s 7.3%, but higher than the 6.7% recorded a year ago. Diflucan without prescription, Manufacturing space has the lowest vacancy of 5.2%.
Warehouse/distribution properties continue to record the lion’s share with 3.2 million square feet of absorption this quarter, continuing a six-year trend of positive absorption and accounting for more than 6.9 million square feet of absorption year-to-date. Contributing to the absorption included move-ins into build-to-suit (BTS) buildings by Igloo, 420,000 square feet, and Medline, 363,320 square feet, in each of their respective new Katy facilities, Diflucan No Rx. Other major deals include Frontier Logistics’ 600,000 square-foot lease at 225 RailPort; HD Supply’s 500,000-square-foot deal and The Reynolds Company’s 130,000-square-foot deal at Pinto Business Park. Several major leases were announced at the new Rampart Corporate Center including Goodman Manufacturing’s 299,840 square feet, Restoration Hardware’s 131, buy Diflucan no prescription,000 square feet, Spears Manufacturing’s 96,000 square feet and Sunbelt Marketing Investment Corp.’s 60,250 square feet. PrimeSource also signed for its 149,500-square-foot BTS building in Century Plaza. Properties classified as warehouse/distribution represent about 73% of the total market. Diflucan No Rx, Rental rates have increased 9.6% during the last year, when comparing this quarter’s quoted, weighted averaged annual rental rate of $6.18 per square foot to the $5.64 rate recorded a year ago. Rental rates will continue to inch upward as long as supply remains limited. Doses Diflucan work, Sublease space decreased this quarter to almost 1.9 million square feet from 2.3 million square feet last quarter and when compared to the same quarter a year ago with 1.7 million square feet.
Construction activity is booming, with warehouse/distribution projects accounting for almost 6.8 million square feet, or 87%, of the buildings under construction. Currently, 77 buildings are under construction in 50 projects and represent about 7.8 million square feet. The largest projects with multiple buildings underway are concentrated in the Northwest and Greenspoint areas and represent 75.4% of the space underway citywide, Diflucan No Rx. These major projects include Hines’ Pinto Business Park, DCT’s Northwest Crossroads, Clarion Partners/Trammell Crow’s Fallbrook Pines Business Park, effects of Diflucan, Panattoni’s Beltway Crossing Northwest, Avera’s Imperial Distribution Park, Levey Group’s Sam Houston Business Park, and IDI’s Greenspoint Business Center.
More than 2.2 million square feet in 23 properties came online during the fourth quarter; year-to-date, 111 buildings in 84 properties totaling almost 7.7 million square feet have been completed and are collectively 55.5% vacant. The largest properties completed in 2013 include Medline, 506, Diflucan from canadian pharmacy, 200 square feet; Ben E. Keith, 475,000 square feet; Igloo, 420,000 square feet; and Goya Foods, 400,000 square feet.
Patsy Fretwell is a senior market analyst with Commercial Gateway and has more than 20 years of experience in real estate market research. She can be reached at firstname.lastname@example.org.
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