The document provides a market snapshot for the office submarket in The Woodlands, Texas for Q2 2018. It summarizes that the submarket saw positive net absorption of 97,754 square feet during the quarter, with the average vacancy rate decreasing from 9.8% to 8.2%. It also notes that a new 141,700 square foot office building began construction and is estimated to be completed in Q2 2019. Rental rates for both Class A and B properties are shown to be increasing while vacancy rates are decreasing.

1. Market Indicators
Class A Class B
VACANCY
NET ABSORPTION
CONSTRUCTION
RENTAL RATE
NEW SUPPLY
The Woodlands
Galveston
Bay
225Bellaire
The Woodlands
Humble
Pasadena
IAH
EFD
HOU
Cypress
Tomball
Katy
Brookshire
Lake
Houston
La Porte
146
League City
Kingwood
Atascocita
Spring
Pearland
35
35
Richmond
Waller
Hockley
242
1488
1488
Conroe
Magnolia
Willis
Lake
Conroe
Crosby
CBD
Ship
Channel
Clear Lake
Baytown
Mont Belvieu
Dayton
149
149
Cleveland
105
105
105
321
330
Alvin
Hitchcock
Texas
City
Sugar Land
The Woodlands’ office submarket snapshot
Research Snapshot
THE WOODLANDS | OFFICE
Q2 2018
Statistical Summary
1488
2920
249
1314
242
Huffsmith-Kohrville
WoodlandsParkway
ResearchForest
Needham Rd.
Grogan’sMillRd.
Spring Stuebner
GoslingRd.
Kuykendahl
ToHoustonCBD
WOODLANDS SUBMARKET MAP
VACANCY
RENTAL
RATE
Class # of Bldgs. Total (SF) (SF) Rate (%) (SF) Rate (%) Total (SF) Q2-2018 Q1-2018 Q2-2018 Q1-2018 AVG ($/SF)
The Woodlands
A 46 11,382,385 896,931 7.9% 57,605 0.5% 954,536 8.4% 9.1% 82,201 -20,626 $32.41
B 69 4,461,008 441,031 9.9% 45,976 1.0% 487,007 10.9% 10.9% -165 13,014 $26.24
C 5 131,696 25,356 19.3% 0 0.0% 25,356 19.3% 31.2% 15,718 -3,234 $24.88
Total 120 15,975,089 1,363,318 8.5% 103,581 0.6% 1,466,899 9.2% 9.8% 97,754 -10,846 $30.27
INVENTORY DIRECT VACANCY SUBLEASE VACANCY VACANCY RATE (%) NET ABSORPTION (SF)
Once again, The Woodlands’ office submarket performed well over the
quarter, posting 97,754 SF of positive net absorption in Q2 2018. The
average vacancy rate continued to decrease, dropping from 9.8% to
8.2%.
Research Forest Lakeside Building 4 (2445 Technology Forest Blvd.),
completed two subleases over the quarter. Dover Energy Automation
subleased 23,535 SF and Star West Generation subleased 6,476 SF.
Patrinely Group began construction on City Place 1 (1700 City Plaza
Dr.) in Springwoods Village. The 5-story, 141,700 sf building with
122,600 sf of office space is estimated to be completed in Q2 2019.
Lisa Bridges Director of Market Research | Houston
HOUSTONTEXAS THE WOODLANDS

2. 2 The Woodlands Research Snapshot | Q1 2018 | Office | Colliers International2
The average quoted rental rates are a mix of direct and sublet rates and are based on a blend of gross and NNN. The graphs below are
only intended to show rental rate trends. Actual gross rates are higher than the average rate shown in the graph.
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
$18.00
$19.00
$20.00
$21.00
$22.00
$23.00
$24.00
$25.00
$26.00
$27.00
$28.00
Class B Rental Rate and Vacancy Percentage
The Woodlands, TX
Class B Rents Class B Vacancy
*Vacancy percentage includes direct and sublease space.
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
Available Sublease Space
The Woodlands
Class A Class B
Available Sublease Space
Q2 2018
Class A: 129,439 SF or 1.1% Class B: 63,774 SF or 1.4%
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
$25.00
$27.00
$29.00
$31.00
$33.00
$35.00
$37.00
$39.00
Class A Rental Rate and Vacancy Percentage
The Woodlands, TX
Class A Rents Class A Vacancy
*Vacancy percentage includes direct and sublease space.

3. 3 North American Research & Forecast Report | Q4 2014 | Office Market Outlook | Colliers International
Copyright © 2015 Colliers International.
The information contained herein has been obtained from sources deemed reliable. While
every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No
responsibility is assumed for any inaccuracies. Readers are encouraged to consult their
professional advisors prior to acting on any of the material contained in this report.
Colliers International | Market
000 Address, Suite #
000 Address, Suite #
+1 000 000 0000
colliers.com/<<market>>
FOR MORE INFORMATION
Lisa Bridges
Director of Market Research | Houston
+1 713 830 2125
lisa.bridges@colliers.com
3 North American Research & Forecast Report | Q4 2014 | Office Market Outlook | Colliers International
Copyright © 2015 Colliers International.
The information contained herein has been obtained from sources deemed reliable. While
every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No
responsibility is assumed for any inaccuracies. Readers are encouraged to consult their
professional advisors prior to acting on any of the material contained in this report.
Colliers International | Market
000 Address, Suite #
000 Address, Suite #
+1 000 000 0000
colliers.com/<<market>>
3 North American Research & Forecast Report | Q4 2014 | Office Market Outlook | Colliers International
Copyright © 2018 Colliers International.
The information contained herein has been obtained from sources deemed reliable. While
every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No
responsibility is assumed for any inaccuracies. Readers are encouraged to consult their
professional advisors prior to acting on any of the material contained in this report.
Colliers International | The Woodlands
1790 Hughes Landing Blvd., Suite 250
The Woodlands, TX 77380
+1 713 830 4011
colliers.com/thewoodlands
Absorption and New Supply
Woodlands Class A Office
Woodlands Class B Office
-200,000
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
1,800,000
2,000,000
Net Absorption New Supply
-150,000
-100,000
-50,000
0
50,000
100,000
150,000
200,000
Net Absorption New Supply

4. 4 The Woodlands Research Snapshot | Q1 2018 | Office | Colliers International4
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