CXRE » Houston submarkets

Bellaire Submarket Update

The Bellaire submarket is one of the smaller markets in Houston with just under 5 million SF. It is located close to the Uptown/Galleria market, Texas Medical Center, and is within the Houston-Sugar Land- Baytown metro area. The vacancy rate for Bellaire as of fourth-quarter 2019 is 12.4%, with a twelve-month net absorption of 107,000 SF of space. Bellaire Submarket Office and Medical Buildings Bellaire has an aging office inventory with most properties built in the 1970’s and 80’s, with little development taking place this past cycle. A high number of medical tenants occupy space in this submarket due to its location near Texas Medical Center. Bellaire also has strong demographics with surrounding residential neighborhoods. Some of the larger tenants that lease office space in this submarket are AT&T, Well Care Health Plans, and Texas Children’s Hospital. We see Bellaire as a good investment for tenants, especially those in the medical industry. Investors continue to […]

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