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Houston’s Office Vacancy Decreases in Q1 of 2011

The office vacancy rate in the Houston market area decreased to 13.4% at the end of the first quarter 2011. The vacancy rate was 13.6% at the end of the fourth quarter 2010, 13.9% at the end of the third quarter 2010, and 13.9% at the end of the second quarter 2010.

Class A projects reported a vacancy rate of 14.2% at the end of the first quarter 2011, 14.3% at the end of the fourth quarter 2010, 15.0% at the end of the third quarter 2010, and 15.1% at the end of the second quarter 2010.

Class B projects reported a vacancy rate of 13.6% at the end of the first quarter 2011, 13.8% at the end of the fourth quarter 2010, 13.8% at the end of the third quarter 2010, and 13.8% at the end of the second quarter 2010.

Class C projects reported a vacancy rate of 10.7% at the end of the first quarter 2011, 10.9% at the end of fourth quarter 2010, 11.2% at the end of the third quarter 2010, and 11.1% at the end of the second quarter 2010.

The overall vacancy rate in Houston’s central business district at the end of the first quarter 2011 increased to 12.8%. The vacancy rate was 11.5% at the end of the fourth quarter 2010, 11.5% at the end of the third quarter 2010, and 11.3% at the end of the second quarter 2010.

The vacancy rate in the suburban markets decreased to 13.6% in the first quarter 2011. The vacancy rate was 14.0% at the end of the fourth quarter 2010, 14.4% at the end of the third quarter 2010, and 14.5% at the end of the second quarter 2010.

Reprint from CoStar Research

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