HOUSTON—The rate for office space in Houston's Central Business District is the highest of any other market at $42.22 per square foot, and yet demand continues to drive up prices there. But two other submarkets—Westchase and Greenway—have undergone, more dramatic rent increases over the last year.
This according to an analysis by Jones Lang LaSalle, as reported in the Houston Business Journal.
The Westchase office market had the highest percent increase over all other submarkets at 18.5% year over year. The average rental rate for Westchase is currently $38.11 per square foot, according to JLL's second quarter report.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
