Kenneth Wise of the Houston office of Jones Lang LaSalle tells GlobeSt.com that vacancy in the Galleria submarket, including sublease space, was 18.44% at the end of the second quarter. Westchase is posting a 27% vacancy and Northbelt, 24%. As for the rest of the market's standing at the Q2 close: Stay tuned, more information will be formally released in the near future.

Wise, like others who work in the Galleria submarket, is feeling optimistic thanks to a leasing flurry in recent weeks. Three deals, totaling about 34,000 sf, have closed for Walden Street Capital's 2700 Post Oak Blvd., a 25-story, 490,152-sf tower.

Wise represented Chicago-based Walden in leases with Trinity Consultants Inc., Cumulus Media Inc., GLOFEX LP and attorneys Jones Young Husain. Wise said the rates ranged from $21 per to $23 per sf and terms ranging from three to 10 years. With the new deals, the building is 74% occupied.