The Fort Bend office submarket posted 8,645 SF of negative net absorption in Q2 2017. The average vacancy rate increased 10 basis points (bps) from 10.5% to 10.6% over the quarter, and increased 160 bps from 9.0% in Q2 2016. The average quoted rental rate increased between quarters from $24.41 to $24.76 per SF. Current office development includes two buildings which total about 180,000 square feet in the Imperial Market mixed-use development. The office space is expected to be completed by October 2017.
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