Houston Office Market Outperforms Other Cities

HOUSTON-Although the metro area has been impacted by the global recession, it is in much better shape than other cities across the nation, and local office market fundamentals reflect that strength, according to the First Quarter Market Snapshot from Transwestern/Delta Associates.

“Houston’s office market has definitely held up better than other cities across the US,” says Chip Clarke, president of Transwestern’s Gulf Coast Region & Mountain Region. “In-migration is still positive, and the region has real identifiable job creators with the Port of Houston, the Medical Center and the energy sector. All three of these big economic drivers have good prospects for the future on a national and international level.”

In fact, Forbes magazine ranks Houston fourth among 10 major US metro areas where it appears that the recession is easing. The top cities generally depend on industries that are less affected by an unsteady economy.