Overall positive outlook for commercial real estate in Houston

  • 10 million square feet of commercial could be available by the end of 2016
  • Low oil prices have drastically affected new construction and development
  • Retail space occupancy reached a record-high of 93.9 percent

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Houston developers and forecasters are burning the midnight oil trying to figure out ways to fill nearly 10 million square feet of commercial space, which might be the only positive impact for the real estate market in Houston given crude oil’s current $40-per-barrel price tag.

Industry leaders gathered to discuss the current state and future of commercial real estate in the Bayou City at the March 29 RealShare Houston conference.