Recently there has been a new office construction boom in Houston during the last 12 months. Office space under construction in Houston has reached the highest level in the area since the boom of the 1980’s, increasing by around 54 percent.
More than half of that space is already engage or committed, with large tenants that are moving or expanding taking the dimensions of the space.
According to recent reports, there is 19 million square feet of office space under construction in the Houston area right now. About 36 percent of that is corporate-owned office space, which includes Exxon Mobil campus in north Houston, Philips in Westchase, and Southwestern Energy’s in Springwood Village.
At the end of the year near 5.4 million square feet of new…