HOUSTON—Technology, demand and right-sizing are revolutionizing traditional office from every angle. NAIOP's O.CON: The Office Conference, held June 24-25 Houston, leads the conversation on what's driving the future of office. The inaugural O.CON will showcase creative spaces and retrofits that meet today's demand, and talk about what to do with dinosaur inventory, hear from end-users on space requirements, and talk with developers and investors who are doing the deals.

Gregory Fuller, COO, Granite Properties Inc., is sitting on the panel "Taking the Leap into Spec Office Development." GlobeSt.com recently caught up with Fuller to get his take on current state of spec office.

GlobeSt.com: Are you seeing much spec development?

Gregory Fuller: Not in many places. We are seeing it in Dallas, San Francisco, Boston and New York. Houston has come to a halt. It is happening in amenitized urban locations with transit, retail and restaurants—and in some suburban nodes.

GlobeSt.com: When is the ideal time for spec development?

Fuller: When vacancies are low. You've got to try to time it when rates will justify the new construction—often you are betting on a curve.

GlobeSt.com: What about pre-lease versus spec?

Fuller: It's a much safer bet to do pre-leasing. But you're either in a market that pre-leases or not, depending on demand.

GlobeSt.com: What are the differences between spec building pre- and post-recession?

Fuller: There is not a lot of difference. You're now looking for amenities in the best spaces and you're trying to appeal to millennials. Wifi has to be everywhere, you need open floor plans, more parking—specifically in suburban markets.

GlobeSt.com: What can conference attendees expect from the panel?

Fuller: We will talk about trends, when the market justifies spec, meeting a wider audience and providing amenities to a number of tenants rather than a single tenant.