Rent Office Space Houston Uptown
About 6 miles west of Downtown Houston – Central Business District is the area known as Galleria-Uptown (or simply Uptown). Development in the area began in the 1960s. Due to intense development, Uptown grew immensely over the next two decades. Consequently, it surpassed Downtown in some ways. By the late 1980s, Galleria-Uptown had more shopping centers and hotel rooms than Downtown. As a result, it was bigger than either Downtown Denver or Downtown Atlanta at that time.
Currently, Uptown is almost the same size as Downtown Pittsburgh or Downtown Denver. This desirable Houston submarket covers 1,010 acres. It is bounded roughly by Interstate 610 (the West Loop) to the east, Woodway Drive to the north, Yorktown Street to the west, and Interstate 69 to the south.
There are a number of reasons why Uptown is so attractive. First of all, it is adjacent to the West Loop. Also, the area has a lot of amenities. Uptown has The Houston Galleria (often stylized as theGalleria), Texas’ largest mall. In fact, some people refer to Uptown as the Galleria. Furthermore, the district hosts several consulates – Australia, Argentina, France, Germany, Qatar, South Korea, and others.
Likewise, Texas’ 4th tallest building, the 901 ft, 64-story Williams Tower is in Uptown. In addition, Uptown has buildings designed by renowned architects I. M. Pei, César Pelli, and Philip Johnson. Pelli designed Uptown’s Four Oaks Place complex.
Uptown Houston Rent Office Space
Uptown is an employment-centric submarket. It is home to around 2,000 companies. In addition, the area has one of Houston’s most diverse tenant bases. Some companies with operations in Uptown include:
- Dow Chemical
- BBVA Compass
- Duke Energy
- BHP Billiton
- Clear Channel
- Marathon Oil Corporation
Also, Galleria-Uptown is Houston’s second largest office submarket. The submarket has around 23 million SF of office space. Much of this is spread across approximately 64 commercial office buildings. This represents about 11% of Houston’s office space. Most noteworthy is the fact that Uptown has 22% of Houston’s Class A office space.
On top of that, Uptown is one of Houston’s most highly sought-after office submarkets. For that reason, Uptown offices have lower than average office vacancy rates. The area’s current office vacancy rate is around 16%.
Finally, like a few other desirable Houston submarkets (Downtown, The Woodlands, Greenway), Uptown’s office leasing trends go against the grain. Rents for Galleria-Uptown offices have risen. Sublease space and vacancy rates have declined. In contrast to less desirable submarkets, Uptown’s average annual office leasing rates are strong. Right now, they hover at around $37.00/ SF.
Rent Office Space Houston Uptown
CXRE Group is a team of Texas-licensed commercial brokers and agents (TREC Corporate Broker, CXRE LLC, License #9004453). We handle Uptown Houston rent office space transactions. Even more, we help you find the best office leasing solutions to fit your needs.
In addition to our office leasing services, we offer other services as well. From office brokerage services and asset maintenance to infrastructure management, we can help. Similarly, our Houston office specialists can also help with land brokerage and industrial properties. Contact us today to learn how we can assist you with Uptown offices in Houston.