Over the past four years, The Woodlands has been described as one of the tightest and most expensive suburban office markets in the Houston area. The Woodlands was one of the first suburban submarkets to break through the $30 per square foot, gross rental rate barrier. On the demand side of the equation, companies looking to relocate or expand into the area were met with few options as Class A and B office properties logged sub-5% vacancy levels. Not surprisingly, landlords in the area adopted fairly consistent and inflexible lease terms as concessions evaporated.
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