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The amount of sublease space as a percentage of the total amount of available space decreased to 16.8%, compared to 17.8% at this time last month, currently at 10.1 million square feet, according to recent reports.
The Hayworth developer researched the surrounding Tanglewood area and designed the community to fit in, rather than a formulaic approach, to provide a luxury lifestyle in a premium neighborhood.
Bank of America Center remains one of the most recognizable, iconic structures and continues to be competitive for prestigious tenants in Houston, including TransCanada which recently expanded there.
Due to the recent Highway 146 expansion resulting in many businesses being displaced, a long-time tenant was forced to move its Seabrook location and is now leasing space at Seabrook Center on NASA Parkway.
Many office tenants were displaced in the Energy Corridor, Riverway and along Allen Parkway, but most tenants are getting back to normalcy and expected to return to permanent space by year's end.
The combination of a nearly full lease-up and upper-tier demographics make for an attractive asset in terms of acquisition, as in the case for the Grand at the Dominion, a 320-unit class-A luxury community.
Harvey effectively accelerated the multifamily recovery timeline, propelling Houston into a landlord-favored market approximately 18 months ahead of schedule but also causing supply to tighten.