The report claims such tenants will be "disappointed to find that the effect on their markets has been negligible. With the region's strengths in manufacturing, medical, engineering and high-technology industries, Houston is better able to deal with shocks to its energy sector than at any other time in its history."
The report predicts that given the optimism of local firms and diversity of Houston's economic base, the city is likely to hold up well through the uncertain times ahead and will likely seriously benefit from any upturn in the national economy.
Studley's report also shows that space availability rates have remained largely unchanged through the fourth quarter of 2001. The direct class A availability rate fell slightly from about almost 14% to 13.8%, while non-Class A availability rates inched up to 18.9% in the fourth quarter from just over 18%.
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