The Houston office market summary provides an overview of key indicators in Q3 2014. Net absorption was 420k SF, pushing the year-to-date total to 4.4M SF. The average citywide vacancy rate increased slightly to 11.9% while average rental rates rose to $26.94 per SF. Strong job and economic growth are expected to continue driving demand in the Houston market through the end of 2014.

1. www.colliers.com/houston
Q3 2014 | OFFICE MARKET
HOUSTON OFFICE
MARKET INDICATORS
Q2 2014
Q3 2014
CITYWIDE NET ABSORPTION (SF)
1.6M
420K
CITYWIDE AVERAGE VACANCY
11.6%
11.9%
CITYWIDE AVERAGE RENTAL RATE
$26.52
$26.94
CITYWIDE DELIVERED INVENTORY (SF)
1.7M
1.5M
CLASS A RENTAL RATE
CBD
$40.54
$42.52
SUBURBAN
$32.17
$31.80
CLASS A VACANCY
CBD
9.9%
9.8%
SUBURBAN
8.9%
9.6%
RESEARCH & FORECAST REPORT
HOUSTON OFFICE MARKET
HOUSTON’S OFFICE MARKET YEAR-TO-DATE POSITIVE NET ABSORPTION REACHES 4.4M SF
Houston’s strong economy continues to spur office development with over 17.3M SF currently under construction. Over 1.2M SF of new inventory delivered during Q3, bringing 2014 year-to-date delivered inventory to 4.5M SF. Our forecast projects another 5.3M SF of new inventory will be completed by year-end 2014, which includes the ExxonMobil north campus. Much of the construction activity is tied to the energy industry and includes office buildings that Shell Oil, ExxonMobil, BHP, Phillips 66, and Noble Energy will occupy once completed.
Houston’s office market posted 420,419 SF of positive net absorption in Q3 2014, pushing year-to-date net absorption to 4.4M SF.
The citywide average rental rate increased 1.6% from $26.52 to $26.94 per SF over the quarter. The average CBD rental rate increased 3.3% from $36.35 to $37.56 per SF, while the average suburban rental rate increased 0.1% from $24.95 to $24.98 per SF over the quarter.
The Houston metropolitan area created 107,400 jobs between August 2013 and August 2014, an annual increase of 3.9% over the prior year’s job growth. Sectors creating the most jobs included professional, scientific, and technical services, health care and social assistance, and accommodation and food services. Houston’s unemployment rate fell to 5.4% from 6.3% one year ago.
Houston’s economy is expected to remain strong in 2014 due to healthy job growth and continued expansion in the energy sector. 5.0% 7.0% 9.0% 11.0% 13.0% 15.0% 17.0% -1,500,000-1,000,000-500,0000500,0001,000,0001,500,0002,000,0002,500,000Net AbsorptionNew SupplyVacancy
Houston
UNEMPLOYMENT
8/13
8/14
HOUSTON
6.3%
5.4%
TEXAS
6.4%
5.5%
U.S.
7.3%
6.3%
JOB GROWTH
ANNUAL CHANGE
# OF JOBS ADDED
HOUSTON
3.9%
107.4K
TEXAS
3.4%
381.6K
U.S.
1.8%
2.5M
JOB GROWTH & UNEMPLOYMENT
(Not Seasonally Adjusted)
ABSORPTION, NEW SUPPLY & VACANCY RATES

2. RESEARCH & FORECAST REPORT | Q3 2014 | HOUSTON OFFICE MARKET
$26.00
$28.00
$30.00
$32.00
$34.00
$36.00
$38.00
$40.00
Class A Office Rents
CBD Rents
Suburban Rents
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
20.0%
CBD VS. Suburban
Class A Office Vacancy
CBD Vacancy
Suburban Vacancy
COLLIERS INTERNATIONAL | P. 2
VACANCY & AVAILABILITY
Houston’s citywide vacancy rate rose 30 basis points between quarters from 11.6% to 11.9% due to the space added to the market, but fell by 70 basis points annually from 12.6% in Q3 2013. Between quarters, the average suburban vacancy rate increased 50 basis points from 11.7% to 12.2% while the average CBD vacancy rate decreased 10 basis points from 11.1% to 11.0%.
The average CBD Class A vacancy rate decreased 10 basis points between quarters from 9.9% to 9.8%, and the average CBD Class B vacancy rate fell 40 basis points from 11.6% to 11.2%. The average suburban Class A vacancy rate increased 70 basis points to 9.6% from 8.9%, and the average suburban Class B vacancy rate rose 50 basis points from 14.2% to 14.7% between quarters.
Of the 1,644 existing office buildings in our survey, only 45 have 100,000 SF of contiguous space available for lease or sublease. Further, only 15 have 200,000 SF of contiguous space available. Citywide, available sublease space totals 4.0 million SF or 1.9% of Houston’s total office inventory, but only 1.8 million SF of this sublease space is currently vacant.
ABSORPTION & DEMAND
Houston’s office market posted 420,419 SF of positive net absorption in Q3 2014, much less than the 1.6M SF posted in the previous quarter.
Suburban Class A space posted the largest gain, with 631,776 SF of positive net absorption, the majority of which occurred in The Woodlands, Katy Freeway, and West Loop/Galleria submarkets.
Some of the larger tenants that moved into new space during Q3 include Repsol Services Company (200,000 SF) which moved into 2455 Technology Forest Blvd. in The Woodlands submarket, Devon Energy (63,269 SF) which moved into Wildwood Corporate Centre located in The Woodlands submarket, NetIQ Corporation (55,380 SF) which moved into 515 Post Oak Blvd. in the West Loop/Galleria submarket, and William Jacob Management (28,638 SF) which moved into 15810 Park Ten Place located in the Katy Freeway submarket.
RENTAL RATES
The citywide average rental rate increased 1.6% from $26.52 per SF to $26.94 per SF over the quarter, and 5.1% from $25.64 per SF over the year. Average citywide rental rates for both Class A and B increased 0.2% over the quarter.
The Class A average rental rate in the CBD increased 4.9% from $40.54 per SF to $42.52 per SF between quarters, while the suburban Class A average rental rate fell 1.2% from $32.17 per SF to $31.80 per SF. The average Class B rental rate in the CBD rose 0.7%, while the average suburban Class B rental rate remained unchanged between quarters.
Building NameAddressSubmarketRBA (SF)Year Built% LeasedAvail. SFRent ($/SF)Owner600 Travis600 TravisCBD1,656,5291982/ 201294.8%123,784$48.43 HinesHeritage Plaza1111 BagbyCBD1,359,266198698.9%30,133$50.71 AEW Capital Management and Brookfield Office Properties, Inc. BG Group Place811 MainCBD972,474201196.5%140,093$45.96 NPS of KoreaCityCentre Three842 W Sam Houston Pky NKaty Freeway120,211201294.7%6,349$45.96 Midway T & C Land InvestorsWilliams Tower2800 Post Oak BlvdWest Loop/Galleria1,476,973198399.1%70,353$48.36 Invesco Real EstateBBVA Compass Plaza2200 Post Oak BlvdWest Loop/Galleria312,574201378.4%67,523$46.00 RS Post Oak Perennial LPCityWestPlace 42103 CityWest BlvdWestchase518,293200199.5%92,984$47.43 Parkway Properties, Inc. One BriarLake Plaza2000 W Sam Houston PkyWestchase502,410200097.5%64,802$47.97 TIER REIT, Inc. 24 Waterway24 Waterway AveThe Woodlands308,000200898.1%17,881$46.38 Black Forest Ventures, LLCTwo Hughes Landing1790 Hughes Landing BlvdThe Woodlands197,719201483.1%33,348$46.28 The Woodlands Development Company, L.P. Note: Avail. SF includes direct and sublet space as well as any future available space listed. Source: CoStar PropertyQUOTED GROSS RENTAL RATES FOR EXISTING TOP PERFORMING OFFICE BUILDINGS

3. RESEARCH & FORECAST REPORT | Q3 2014 | HOUSTON OFFICE MARKET
Q3 2014 SIGNIFICANT SALES TRANSACTIONS – (100,000 SF or greater)
Building Name
Submarket
RBA (SF)
Year Built
Buyer
Seller
Sale Price
$/SF
Closed
8 West Centre
Katy Freeway
227,045
2013
Azrieli Group
Core Real Estate JV Prudential
$76M
$334
9/2014
Two Westlake Park
Katy Freeway
454,843
1982
PIMCO JV Hicks Ventures
KBS REIT II, Inc
$120M
$264
7/2014
Frost Bank Bldg
Westchase
218,680
1983/ 2012
Beacon Investment
TA Realty
$46.3M
$212
7/2014
Westchase Corporate Center
Westchase
184,259
1998
Clarion Partners
DRA Advisors JV MAA Reit
$53M
(rumor)
$288
8/2014
COLLIERS INTERNATIONAL | P.3
SALES ACTIVITY
Houston’s office investment sales activity included 26 sales transactions and a total sales volume of approximately $633.2 million averaging $200 per SF, with an average cap rate of 6.7%. Listed below are a few significant transactions that closed in Q3 2014.
LEASING ACTIVITY
Houston’s office leasing activity reached 2.5 million SF in Q3 2014 with transactions including renewals, expansions, subleases, and pre-leases in buildings currently under construction.
1Renewal
2Expansion/Extension
3Sublease
4Pre-lease/proposed or under construction
Source: Real Capital Analytics
Building Name/Address Submarket SFTenant Lease Date 2550 North Loop WestNorth Loop West 100,588 cPanel, Inc.Aug-1422535 Colonial ParkwayNorthwest 89,750 Det Norske Veritas1Jul-14Granite Briarpark GreenWestchase 77,625 JGC America2Jul-14Energy Tower IKaty Freeway 77,000 Pacific DrillingSep-14Wells Fargo PlazaCBD 74,975 Gardere Wynne Sewell LLP1Jul-14Wildwood Corporate CentreWoodlands 63,259 Devon EnergyJul-14Pinnacle WestchaseWestchase 53,245 Phillips 663Aug-14Granite Briarpark GreenWestchase 38,026 Friede & Goldman LtdSep-14Energy Tower IKaty Freeway 35,000 Higginbotham Insurance & Financial ServicesSep-14Energy Crossing IKaty Freeway 35,000 University of Texas MD AndersonJul-14West Memorial PlaceKaty Freeway 28,655 Venari Resources4Jul-14Granite Tower @ 290Northwest 26,452 Cobb, Fendley & Associates1Sep-14Two Hughes LandingWoodlands25,576Stone Energy CorporationJul-143831 Technology Forest Blvd.Woodlands24,517Kiewit Energy GroupJul-14Loop Central IIIBellaire21,556McConnell Jones Lanier & Murphy, LLPAug-14The Offices at Granway WestKaty Freeway21,000Percheron Holdings4Aug-141001 McKinneyCBD20,000McGlinchey Stafford PLLC1Sep-14Oak Park Office CenterWestchase19,687Jacobs Engineering1Sep-142777 Allen ParkwayAllen Parkway17,000Funderburk Courtois1Aug-142700 Research Forest DrWoodlands16,727Rockwell Automation2Sep-143700 Bay Area BlvdNASA/Clear Lake11,000Intuitive MachinesAug-142000 North Loop WestNorth Loop West9,819The Reyna Group2Aug-14Two Hughes LandingWoodlands8,615The Strong FirmAug-14Northbelt Atrium IGreenspoint/IAH7,766Prince Minerals2Aug-14Q3 2014 TOP OFFICE LEASES

4. RESEARCH & FORECAST REPORT | Q3 2014 | HOUSTON OFFICE MARKET
HOUSTON OFFICE MARKET SUMMARY (CBD, SUBURBAN & OVERALL)
HOUSTON SUBURBAN OFFICE MARKET SUMMARY
COLLIERS INTERNATIONAL | P. 4
VACANCYRENTAL RATEClass# of Bldgs. Total (SF)(SF)Rate (%)(SF)Rate (%)Total (SF)Q3-2014Q2-2014Q3-2014Q2-2014AVG ($/SF) Allen Parkway A41,598,033208,13313.0%00.0%208,13313.0%15.2%35,289-32,355$32.74B322,620,056130,3415.0%4,0480.2%134,3895.1%5.7%15,65346,749$26.70C15503,182111,56322.2%00.0%111,56322.2%22.8%3,101-106$23.43Total514,721,271450,0379.5%4,0480.1%454,0859.6%10.8%54,04314,288$28.88BaytownB3186,0056,2483.4%00.0%6,2483.4%0.4%-5,551-697$17.18C381,4811,8122.2%00.0%1,8122.2%2.2%021,026$9.87Total6267,4868,0603.0%00.0%8,0603.0%0.9%-5,55120,329$10.98Bellaire A61,103,54692,3548.4%19,9051.8%112,25910.2%9.4%-8,08373,425$25.20B182,609,81399,9393.8%6,0340.2%105,9734.1%4.2%4,560-4,475$22.79C5327,02056,09717.2%00.0%56,09717.2%19.1%6,4981,505$15.99Total294,040,379248,3906.1%25,9390.6%274,3296.8%6.9%2,97570,455$23.49Conroe and Outlying Montgomery CoA2107,16147,16144.0%00.0%47,16144.0%43.7%-3290$24.53B10511,80521,8194.3%00.0%21,8194.3%4.3%00$22.32C7291,4994,7941.6%00.0%4,7941.6%2.5%2,5005,380$15.71Total19910,46573,7748.1%00.0%73,7748.1%8.3%2,1715,380$22.65E. Fort Bend/Sugar LandA183,509,489378,12210.8%28,7550.8%406,87711.6%11.3%-9,155182,709$28.13B372,194,361293,68413.4%100,2074.6%393,89118.0%17.9%19,59744,355$21.48C4264,2069,5023.6%2,3020.9%11,8044.5%5.0%1,4810$18.96Total595,968,056681,30811.4%131,2642.2%812,57213.6%13.5%11,923227,064$25.04FM 1960 A132,262,736121,6335.4%31,0901.4%152,7236.7%7.3%11,85255,867$27.19B904,968,633940,38118.9%25,1000.5%965,48119.4%19.6%10,8047,492$15.89C20716,15361,2058.5%00.0%61,2058.5%7.9%-4,4805,302$15.36Total1237,947,5221,123,21914.1%56,1900.7%1,179,40914.8%15.1%18,17668,661$17.04INVENTORYDIRECT VACANCYSUBLEASE VACANCYVACANCY RATE (%)NET ABSORPTION (SF) VACANCYRENTAL RATEClass# of Bldgs. Total (SF)(SF)Rate (%)(SF)Rate (%)Total (SF)Q3-2014Q2-2014Q3-2014Q2-2014AVG ($/SF) CBDA3130,778,4552,435,1457.9%585,3361.9%3,020,4819.8%9.9%15,178234,888$42.52B3110,517,5181,140,45210.8%32,3110.3%1,172,76311.2%11.6%47,85359,895$27.71C201,304,657479,89836.8%00.0%479,89836.8%36.4%-5,52916,340$19.72Total8242,600,6304,055,4959.5%617,6471.4%4,673,14211.0%11.1%57,502311,123$37.56SuburbanA29976,086,7726,704,5858.8%587,7360.8%7,292,3219.6%8.9%631,776948,944$31.80B93477,501,65610,719,30513.8%650,2230.8%11,369,52814.7%14.2%-318,256324,097$19.86C32914,993,6311,877,45412.5%3,7420.2%1,881,19612.5%12.9%49,39766,091$15.45Total1562168,582,05919,301,34411.4%1,241,7010.7%20,543,04512.2%11.7%362,9171,339,132$24.98OverallA330106,865,2279,139,7308.6%1,173,0721.1%10,312,8029.7%9.2%646,9541,176,616$34.15B96588,019,17411,859,75713.5%682,5340.8%12,542,29114.2%13.9%-270,403383,992$20.58C34916,298,2882,357,35214.5%3,7420.0%2,361,09414.5%14.8%43,86882,431$15.95Total1644211,182,68923,356,83911.1%1,859,3480.9%25,216,18711.9%11.6%420,4191,643,039$26.94INVENTORYDIRECT VACANCYSUBLEASE VACANCYVACANCY RATE (%)NET ABSORPTION (SF)

5. RESEARCH & FORECAST REPORT | Q3 2014 | HOUSTON OFFICE MARKET
HOUSTON SUBURBAN OFFICE MARKET SUMMARY - CONTINUED
COLLIERS INTERNATIONAL | P. 5
VACANCYRENTAL RATEClass# of Bldgs. Total (SF)(SF)Rate (%)(SF)Rate (%)Total (SF)Q3-2014Q2-2014Q3-2014Q2-2014AVG ($/SF) Greenway A166,224,406430,3026.9%6,2700.1%436,5727.0%7.0%-1,04934,536$35.10B313,265,366230,1087.0%1,5000.0%231,6087.1%8.0%29,43245,249$25.10C21888,957269,31630.3%- 0.0%269,31630.3%30.3%-2274,597$17.89Total6810,378,729929,7269.0%7,7700.1%937,4969.0%9.3%28,15684,382$30.21Gulf Freeway/Pasadena A122,7065262.3%00.0%5262.3%6.0%8376,223$27.59B351,987,769231,03811.6%00.0%231,03811.6%10.6%-19,883-505$19.94C311,197,858123,43710.3%00.0%123,43710.3%10.3%011,435$16.40Total673,208,333355,00111.1%00.0%355,00111.1%10.5%-19,04617,153$18.86I-10 EastB7447,68066,03014.7%00.0%66,03014.7%14.8%31212,302$14.64C5267,08075,83428.4%00.0%75,83428.4%28.4%0-1,519$15.26Total12714,760141,86419.8%00.0%141,86419.8%19.9%31210,783$14.79Katy FreewayA7116,784,397862,8145.1%46,4710.3%909,2855.4%3.3%169,727495,679$33.04B1029,514,8491,049,87111.0%286,6083.0%1,336,47914.0%11.0%-286,048-23,393$23.18C341,596,55660,2983.8%1,4400.1%61,7383.9%4.9%17,0031,741$18.13Total20727,895,8021,972,9837.1%334,5191.2%2,307,5028.3%6.1%-99,318474,027$27.09Kingwood/HumbleB14822,22456,0336.8%00.0%56,0336.8%6.7%-7359,195$19.99C5172,7962,6481.5%00.0%2,6481.5%2.4%1,5100$17.36Total19995,02058,6815.9%00.0%58,6815.9%6.0%7759,195$19.82NASA/Clear Lake A121,767,86691,7995.2%1,3110.1%93,1105.3%6.4%20,6498,689$24.18B453,080,477919,43129.8%3,1510.1%922,58229.9%30.7%22,0407,950$18.15C19630,348129,00920.5%00.0%129,00920.5%20.2%-1,842-10,604$15.80Total765,478,6911,140,23920.8%4,4620.1%1,144,70120.9%21.6%40,8476,035$19.02North Belt/Greenspoint A245,438,248637,29211.7%31,0140.6%668,30612.3%10.4%-104,973-16,658$28.33B575,777,0911,026,70917.8%83,5421.4%1,110,25119.2%19.5%16,682190,896$15.14C221,394,941307,09122.0%00.0%307,09122.0%20.9%-15,581-12,008$12.56Total10312,610,2801,971,09215.6%114,5560.9%2,085,64816.5%15.7%-103,872162,230$22.86Northeast Near and Northeast OutlierB4181,61825,48214.0%00.0%25,48214.0%26.4%22,5370$21.95C256,56212,50622.1%00.0%12,50622.1%36.7%8,2690$12.00Total6238,18037,98815.9%00.0%37,98815.9%28.9%30,8060$16.67Northwest and Northwest OutlierA234,067,782467,69611.5%80,6052.0%548,30113.5%12.0%-61,57853,571$22.76B927,546,1311,128,54015.0%26,5980.4%1,155,13815.3%16.4%85,107-81,775$19.10C411,645,310152,7519.3%00.0%152,7519.3%9.7%6,10731,845$15.24Total15613,259,2231,748,98713.2%107,2030.8%1,856,19014.0%14.2%29,6363,641$20.02Richmond/FountainviewB14805,875204,20525.3%00.0%204,20525.3%27.0%13,3943,758$17.35C13563,72386,00215.3%00.0%86,00215.3%16.2%5,5774,496$14.16Total271,369,598290,20721.2%00.0%290,20721.2%22.6%18,9718,254$16.40INVENTORYDIRECT VACANCYSUBLEASE VACANCYVACANCY RATE (%)NET ABSORPTION (SF)

6. RESEARCH & FORECAST REPORT | Q3 2014 | HOUSTON OFFICE MARKET
HOUSTON SUBURBAN OFFICE MARKET SUMMARY - CONTINUED
COLLIERS INTERNATIONAL | P. 6
VACANCYRENTAL RATEClass# of Bldgs. Total (SF)(SF)Rate (%)(SF)Rate (%)Total (SF)Q3-2014Q2-2014Q3-2014Q2-2014AVG ($/SF) San Felipe/VossA31,720,793202,14311.7%1,9960.1%204,13911.9%14.9%52,79119,107$32.15B333,287,870298,6109.1%21,6260.7%320,2369.7%9.5%-9,18161,614$23.30Total365,008,663500,75310.0%23,6220.5%524,37510.5%11.3%43,61080,721$30.08South A180,00000.0%7,7839.7%7,7839.7%9.7%0-7,783$27.19B12465,15953,98911.6%00.0%53,98911.6%10.2%-6,667-1,136$20.71C5194,04271,98937.1%00.0%71,98937.1%36.3%-1,5390$14.88Total18739,201125,97817.0%7,7831.1%133,76118.1%17.0%-8,206-8,919$20.10South Main/Med CenterA1485,00000.0%00.0%00.0%0.0%00 - B12735,37966,2849.0%00.0%66,2849.0%11.9%21,0738,255$16.00C8475,43665,75513.8%00.0%65,75513.8%15.7%9,04514,010$16.35Total211,695,815132,0397.8%00.0%132,0397.8%9.6%30,11822,265$16.15Southeast/Outlier B151,172,226101,1288.6%00.0%101,1288.6%6.8%-20,897-955$21.14C6236,04300.0%00.0%00.0%0.0%013,120$17.00Total211,408,269101,1287.2%00.0%101,1287.2%5.7%-20,89712,165$20.55SouthwestA61,583,702258,17516.3%00.0%258,17516.3%18.1%29,229-8,655$17.20B645,675,1351,541,53627.2%00.0%1,541,53627.2%24.8%-133,366-588$16.10C422,197,996208,9619.5%00.0%208,9619.5%10.0%10,957-15,467$14.14Total1129,456,8332,008,67221.2%00.0%2,008,67221.2%20.3%-93,180-24,710$16.01Southwest Far and Outlier A293,5917,6328.2%00.0%7,6328.2%11.6%3,2481,392$25.34B16846,593239,67128.3%00.0%239,67128.3%28.4%80024,118$18.75C251,39600.0%00.0%00.0%0.0%01,500$18.00Total20991,580247,30324.9%00.0%247,30324.9%25.3%4,04827,010$20.63West Loop/Galleria A4216,080,8911,494,7759.3%167,1551.0%1,661,93010.3%11.0%176,714-79,936$35.47B586,785,573798,70011.8%26,3250.4%825,02512.2%12.9%53,591-9,692$26.71C4216,2682,2691.0%00.0%2,2691.0%0.7%-767-39$20.56Total10423,082,7322,295,7449.9%193,4800.8%2,489,22410.8%11.5%229,538-89,667$32.81WestchaseA287,698,682938,76712.2%106,6831.4%1,045,45013.6%9.2%-36,724182,616$37.39B637,679,696865,68211.3%38,7230.5%904,40511.8%9.4%-184,969-37,621$20.16C10686,74063,6159.3%00.0%63,6159.3%9.5%1,785-11,445$16.92Total10116,065,1181,868,06411.6%145,4060.9%2,013,47012.5%9.3%-219,908133,550$30.63The Woodlands A265,457,743465,2618.5%58,6981.1%523,9599.6%11.5%353,33117,979$34.63B704,334,272323,8467.5%26,7610.6%350,6078.1%8.9%33,459-8,794$25.61C5338,0381,0000.3%00.0%1,0000.3%0.3%00$19.80Total10110,130,053790,1077.8%85,4590.8%875,5668.6%10.0%386,7909,185$31.34INVENTORYDIRECT VACANCYSUBLEASE VACANCYVACANCY RATE (%)NET ABSORPTION (SF)

7. RESEARCH & FORECAST REPORT | Q3 2014 | HOUSTON OFFICE MARKET
OFFICE DEVELOPMENT PIPELINE
Houston’s construction pipeline contains 17.3 million SF of office space, of which 68.3% is pre-leased. Build-to-suit projects make up 60.2% of the 17.3M SF, and the remaining 6.9M SF of spec office space under construction is approximately 39.8% pre-leased. The table below includes office buildings under construction with an RBA of 50,000 SF or greater.
COLLIERS INTERNATIONAL | P. 7
Data Source: CoStar Property
Building NameAddressSubmarketSFPre- LeasedDeveloperEst. DeliveryExxonMobil Campus23125 I-45 SWoodlands 3,000,000 100.0%Gilbane Building CompanyNov-14Phillips 662101 Citywest BlvdWestchase 1,100,000 100.0%W.S. Bellows Construction Jun-16609 Main at Texas609 Main StCBD1,057,6680.0%HinesFeb-17CyrusOne West Campus 5150 Westway Park BlvdNorthwest Far640,000100.0%CyrusOneMar-15BHP Biliton Petroleum1500 Post Oak BlvdGalleria/Uptown600,000100.0%TranswesternAug-16Energy Center Four925 N Eldridge PkyKaty Freeway West600,000100.0%Trammell Crow CompanyDec-16Energy Center Three935 N Eldridge PkyKaty Freeway West546,604100.0%Trammell Crow CompanyMay-15Energy Center V915 N Eldridge PkyKaty Freeway West526,6370.4%Trammell Crow CompanyJun-16Southwestern Energy HQInterstate 45 & Grand PkyWoodlands515,000100.0%Patrinely Group, L.L.C.Dec-14Noble Energy Center IISH 249 & Louetta RdFM 1960/Hwy 249456,000100.0%Trammell Crow CompanyJun-15Air Liquide Center- South9811 Katy FwyKaty Freeway East452,37037.8%MetroNationalNov-15Energy Tower IV11750 Katy FwyKaty Freeway West428,83136.0%Mac Haik Realty LLCDec-14Millennium Tower II10353 Richmond AveWestchase417,000100.0%BMS Management, Inc.Sep-15Hilcorp Energy Tower1110 Main StreetCBD406,600100.0%HinesJul-153737 Buffalo Speedway3737 Buffalo Speedway AveGreenway Plaza400,00022.9%PM Realty GroupAug-15Shell Phase 3 Bldg 1201 N Dairy Ashford RdKaty Freeway West336,000100.0%HinesMar-15Shell Phase 3 Bldg 2201 N Dairy Ashford RdKaty Freeway West336,000100.0%HinesMar-15Shell Phase 4201 N Dairy Ashford RdKaty Freeway West336,000100.0%HinesMar-15West Memorial Place15375 Memorial DrKaty Freeway West334,14749.4%Skanska Commercial Jan-15ExxonMobil - Hughes Landing1735 Hughes Landing BlvdWoodlands331,06751.7%The Woodlands Development Jan-16ExxonMobil - Hughes Landing1725 Hughes Landing BlvdWoodlands318,170100.0%The Woodlands Development Jan-16Westway Plaza4425 W Sam Houston Pky NFM 1960/Hwy 249312,00056.6%TranswesternApr-15Enclave Place1414 EnclaveKaty Freeway West300,9070.0%PM Realty GroupAug-15Westchase Park II3600 W Sam Houston Pky SWestchase300,0000.0%PM Realty GroupDec-14Beltway Lakes Phase III5775 N Sam Houston Pky ENorthwest Far271,3840.0%Radler Enterprises, Inc.Nov-14Town Centre I700 Town & Country BlvdKaty Freeway East254,4890.0%Moody RambinJan-15Kirby Grove3801 Eastside DrGreenway Plaza248,27535.0%Midway CompaniesAug-15Legacy at Fallbrook10720 W Sam Houston Pky NNorthwest Far206,7540.0%Liberty Property TrustJan-15Academy Sports HQ1800 N Mason RdKaty Freeway West200,000100.0%AcademyJan-15CityCentre Five825 Town & CountryKaty Freeway East195,84266.5%Midway CompaniesJul-15Woodbranch Plaza IV12120 Wickchester LnKaty Freeway West171,475100.0%PM Realty GroupApr-15San Felipe Place2229 San FelipeMidtown167,56211.4%HinesAug-15Katy Ranch Phase I24275 Katy FwySouthwest Outlier151,1870.0%Freeway PropertiesMar-15Park Ten Center - Phase II16200 Park RowKaty Freeway West150,0000.0%Lincoln Property CompanyDec-14Air Liquide Center- North9807 Katy FwyKaty Freeway East143,83061.4%MetroNationalMay-15Beltway 8 Corporate Centre5060 Westway Park BlvdNorthwest Far130,4510.0%Panattoni DevelopmentDec-14Mason Creek Office Center II21700 Merchants WayKaty Freeway West127,9550.0%Myers Crow & Saviers, LTD.May-15Greenhouse Road at Park Row2051 S Greenhouse RdKaty Freeway West114,34521.4%D'Agostino CompaniesOct-14The Offices at Sam Houston10203 W Sam Houston DrNorthwest Far108,63357.7%D'Agostino CompaniesJul-15River Oaks District - Office4444 Westheimer RdPost Oak Park99,82636.9%Oliver McMillanJan-153831 Technology Forest Dr3831 Technology Forest DrThe Woodlands95,078100.0%The Woodlands Development Dec-14Skybox Houston One 22000 Franz RdKaty Freeway West86,96054.0%Skybox DatacentersDec-14Bld 1Grand Pky & Franz Rd @ Katy Katy Freeway West86,80042.6%The Urban CompaniesDec-14Black Forest Technology Park2829 Technology Forest BlvdWoodlands81,8651.3%Black Forest VenturesNov-14Sea Scout Base Galveston7509 Broadway StSoutheast Outlier50,000100.0%Jacob WhiteNov-14

8. RESEARCH & FORECAST REPORT | Q3 2014 | HOUSTON OFFICE MARKET
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*Information herein has been obtained from sources deemed reliable, however its accuracy cannot be guaranteed. COLLIERS INTERNATIONAL | P. 8