Office Market

The Fort Bend office submarket posted 31,309 SF of negative net absorption in Q2 2020. The average vacancy rate increased to 11.8% from 10.3% over the quarter. The average quoted rental rate dropped from $30.97 to $30.39 per SF and leasing activity decreased over the quarter by 40%. There is one building totaling 56,000 SF under construction - an expansion for the Houston Community College System located on W Airport Blvd. The building is expected to deliver in Q3 2020.

Medical Office Market

The average quoted rental rate increased over the quarter from $27.63 to $28.02 per SF. The average vacancy rate rose 70 bps from 14.6% in Q1 2020 to 15.3%. Leasing activity remained steady over the quarter, totaling 18,602 SF. Currently, there are no buildings over 10,000 SF under construction in the submarket.

Industrial Market

Although the submarket recorded 61,451 SF of positive net absorption during Q2 2020, vacancy remained at... Click here to read the full report.