Gault says this will further differentiate and position Loop Central as a value office option for other respected tenants in the market to consider.

The Loop Central project is a three-building office campus strategically located in proximity to the Uptown/Galleria and Greenway Plaza submarkets, and in proximity to some of Houston's most affluent residential neighborhoods, including River Oaks, West University, Bellaire, Tanglewood and The Villages. The campus has frontage along the Westpark Tollway, providing both visibility and express vehicular access to Houston's western suburbs.

Despite energy prices slumping through the fourth quarter, elevated leasing activity fueled by energy companies led the Houston office market to its highest quarterly absorption totals in approximately three years, according to a fourth quarter report by Transwestern. The continued flight-to-quality combined with strong leasing activity resulted in the class-A market netting positive absorption for the year.

In addition to the energy sector, co-working also proved to be a strong driver as the second wave of expansion for the trending space type occurred throughout the market. During the fourth quarter, providers such as Bond Collective, CommonGrounds, Life Time Work, Spaces and WeWork all secured new locations.

This wave of expansion is expected to continue well into the New Year as large providers look to secure multiple locations covering the broad market. Of note, some of the positive absorption created last quarter will have corresponding negative events as the tenants will be vacating space and moving into new facilities, says the Transwestern report.