The Fort Bend office submarket posted 25,848 SF of negative net absorption in Q2 2016, bringing the mid-year net absorption total to positive 45,536 SF.  The average vacancy rate increased 40 basis points (bps) from 7.6% to 8.0% between quarters, and decreased 150 bps from 9.5% in Q2 2015. The average quoted rental rate decreased 1.0% between quarters from $26.41 to $26.15 per SF, and rose 3.6% from an average rate of $25.25 per SF in Q2 2015.  The Offices at Telfair opened during the second quarter and currently has 15,000 SF available for lease.

The average quoted rental rate remained at $26.33 per SF over the quarter and  increased 4.3% from $25.24 per SF in Q2 2015. The vacancy rate increased 50 basis from 12.2% to 12.7% over the quarter and increased 10 basis points from 12.6% in Q2 2015.  Easton Professional, a 25,000-SF medical office building, delivered during the second quarter.  The Exchange at Telfair opened during the second quarter and has 40,000 SF available for lease.

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