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Houston added nearly 3.6 million square feet of medical office space, the most of any US market, and had the second-highest net absorption from second quarter 2017 to second quarter 2018, behind only Phoenix.
Located east of Interstate 35, Port Grande is 10 miles from the Port of Laredo commercial border crossings where approximately 60% of all trade between US and Mexico occurs.
Commercial Cafe's study on workplace layouts found that 56% of Texans prefer private offices, with home offices in second place with 16% of the vote and co-working in third place at 9%.
The healthcare sector has seemingly recovered from a slew of major-provider layoffs in 2017, and more than 130,000 square feet of medical office space was delivered in Q4 2018, with more developments on the way.
Despite the difference in space either added or removed, Houston retail fundamentals are very strong, with occupancy at 94.6%, says a report by NAI Partners.
The segment of the population at or beyond 65 is growing at a rate 14 times faster than those aged 64 or younger and this demand for healthcare services means more workers, making space much tighter in some markets.
Key elements of the Houston Center renovation will include a new arrival experience through a reimagined central plaza and green space along McKinney Street to offer a seamless connection to the street.
The continued flight-to-quality combined with strong leasing activity resulted in the Houston class-A market netting positive absorption for last year.