Houston office leasing activity shrank in the third quarter along with the local economy.
"Compared to the past several years, the sheer volume has just really dropped," said Tim Wingfield, research manager of Savills Studley, a commercial real estate firm that represents tenants. "A lot of the decision making has been put on hold for companies. They're just kind of sitting on their hands right now."
For the first time since 2009, it looks like Houston won't surpass 10 million square feet in leasing deals, according to Savills Studley research...Houston area's office market downshifts
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National Office Sector Report (Q2 2015)