Houston’s Biggest Leases of Q2 Might Disappoint You
Colliers released its Q2 office data, including the largest leases of the quarter. And frankly, they’re pretty paltry—only three topped 30k SF.
Office leasing dropped nearly 36% between quarters, and it’s down almost 68% from Q2 ’14. Transocean’s renewal at 4 Greenway Plaza took the cake for the quarter, with a beefy 255k SF deal. In second place is Stage Stores, although details are unclear--we just know it's signed nearly 200k SF in the Galleria. Third place is one that’s even more impactful than its large size—IHI E&C’s 158k SF in West Memorial Place II (rendered here) soaks up some of the 2.1M SF under construction now. But after that, things shrink way down. The fourth largest lease of the quarter was Virtis’ 26k SF at 1301 Fannin, followed by Crum & Forster taking down 24k SF at Westchase Park Plaza.(Colliers note: There are probably some other large deals that haven't been made public.)
