Examining Office Jobs and Space in the Texas Triangle

CBRE’s recent MarketFlash depicting its five-year outlook for office jobs and space in the Texas Triangle showed mixed predictions for three metros. This area in the state consists of Houston, Austin and Dallas-Fort Worth.

According to the CBRE analysts:

• Steady employment should be the name of the game in Dallas-Fort Worth, with positive absorption anticipated through 2022. Meanwhile, in the near term, “there will be open, and unfilled, office positions,” the report said.
• Austin will likely experience a slowdown in 2019-2021, though there are no worries from analysts. Net absorption has been high, at 3.4%. Furthermore, the forecast models expect Austin to recover in 2022, and “continue its trajectory to primary market status.”
• Houston office employment is expected to create an additional 17,100 jobs in 2018, though the Bayou City did demonstrate a “return to negative demand” in Q1 2018. Still, economic indicators are strong, with prospects for the energy sector improving.

For comments, questions or concerns, please contact Amy Sorter