The Woodlands Class A office submarket records positive net absorption in Q1 2020
The Woodland’s Class A office market posted 277,596 SF of positive net absorption during the first quarter of 2020 as Alight Solutions moved into its 180,000 RSF Build-to-Suit at 8770 New Trails Dr. and Arena Energy took occupancy of 87,231 RSF at Lake Front North (2103 Research Forest Dr.).
In contrast, Class B properties recorded 391,360 SF of negative net absorption as Aon Services Corporation and Alight Solutions vacated 360,000 RSF at 9500 Lakeside Blvd.
Western Midstream Partners leased 133,948 RSF at The Woodlands Towers at The Waterway (9950 Woodloch Forest Dr.) and will relocate in November 2020.
The average quoted rental rates are a mix of direct and sublet rates and are based on a blend of gross and NNN. The graphs below are only intended to show rental rate trends. Actual gross rates are higher than the average rate shown in the graph.