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Cautious Optimism for Houston Despite Overabundance of Office

While there is still a significant amount of new office space available, discussions surrounding hiring in West Houston upstream operations have been welcomed as one-third of energy jobs have returned.

Bay Plaza Bay Plaza office complex is a 104,091-square-foot building located at 711 West Bay Area Blvd.

HOUSTON—Cautious optimism surrounding the Houston office market has continued during 2019, and improvements in the local economy have been embraced by the Energy Corridor submarket, according to a third-quarter office report by NAI Partners. However, questions remain about the sustainability of the energy industry recovery.

While there is still a significant amount of new, vacant office space available, discussions surrounding hiring within West Houston upstream operations have been welcomed. Approximately one-third of energy jobs lost during the oil downturn have returned.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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