The Fort Bend office submarket posted 21,080 SF of positive net absorption in the first quarter of 2014. The average vacancy rate decreased 30 basis points (bps) from 14.4% to 14.1% in Q1 2014, and 480 bps from 18.9% in Q1 2013. Texas Instruments is currently constructing a new 165,000 SF office building which is scheduled to deliver in Q1 2015. Fluor Enterprises purchased 50 acres in Telfair and is in the early planning stages for the construction of a multi-building campus on the site.
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