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Houston, Texas is known as:

"Space City" - "Houston, Tranquility base here. The Eagle has landed."  - Neil Armstrong spoke these words from the surface of the Moon on July 20, 1969;

"H-Town" - The Energy Capital of the World -  a global, diverse, city known for its deep roots in energy and home to a large concentration of engineers; 

"The Bayou City" - Home of the Texas Medical Center—the world's largest concentration of healthcare and research institutions;

"Clutch City” – Earned after the Houston Rockets won the 1994 and 1995 NBA championships.

A top city for millennials, Houston’s broadened economic base includes manufacturing, aeronautics, transportation, finance, international trade, entertainment, design, sports, technology and education. 

The Port of Houston ranks first in the United States in international waterborne tonnage handled and second in total cargo tonnage handled.

Houston is the largest city in Texas.  Mobility in the area is one of the top concerns for any business.  Decisions you make on where to locate your office can significantly affect you, your employees, employee recruitment and your clients. Obviously, there are many other factors you need to consider as well.  We can help ensure you have the information and understanding of the market you need to make the right choice in selecting your office space. We can help whether you want to lease or find a property to purchase.

With over 300 million square feet of office space spread over 26 submarkets, finding the most suitable office space can be a real challenge.

OfficeFinder has a corps of local Houston office space brokers who specialize in helping businesses find and negotiate for their office space. When you fill out the form at the top of this page, we analyze your needs and locate the one who is the best fit to help you out. We have pre-screened and pre-qualified all of our brokers to make sure that you get the service that you want. They will contact you right away and there is no obligation. In most cases, you will find that they perform well above your expectations. Not to leave out that their services are free to you.

The best value in commercial leasing is not easy to obtain. It can take a lot of work to wade through the options.  Get the help you need to ensure you get the best space available.

Some of the Houston office submarkets to consider include:

Downtown CBD
Houston Downtown CBD is located between Hwy 59 and Interstates 45 and 10. It is the City’s central business district and home to many well-known corporations.  Reaching roughly 50 million square feet, Downton Houston has a mix of historic office buildings as well as some of the top iconic office buildings in the world. Hines Interests, founded in Houston in 1957, is a world class developer that significantly influenced the look of our CBD skyline.  Our tunnel and sky bridge systems are efficient and convenient connecting many of the building in the CBD. The submarket attracts large image conscience companies requiring a central location with ample public transportation.

The Uptown submarket is a dynamic and vibrant area of Houston. Historically and often referred to as the Galleria area, the business district is ranked 17th largest in the U.S with roughly 2,000 businesses, consulates, high rise condos and 24 million square feet of office space.

The area grew significantly after Hines Interests completed The Galleria shopping mall in 1970, staking claim to one of the most successful multi-use developments. After multiple expansions adding retail, office and hotel, the destination is recognized worldwide for the convenience of immediate access to a vast collection of large retailers, specialty boutique shops, restaurants, entertainment and business services.

Larger multi-building complexes in Uptown are Lakes on Post Oak, Post Oak Central, Four Oaks and Riverway. The 64 Story Williams Tower, formally Transco Tower, is the tallest building in Houston outside of downtown.

Recently added Blvd Place improved the mix of multi-use properties in the area replacing older obsolete structures with upscale shops, restaurants, a Whole Foods Market, office space and high-rise residences.

Close to Memorial Park and affluent neighborhoods, the Uptown submarket offers a wide variety of office leasing options to businesses of all sizes

Greenway Plaza
The Greenway Plaza submarket inherited its identity, and our reference to the area originated, from the large master planned commercial development created by Century Development.

While a wide variety of class A, B and C office buildings, of all sizes and ages are located in the submarket, the 10-building 4.4 million-square-foot Greenway Plaza office portfolio dominates the landscape.

Located west of downtown, east of the Galleria/Uptown office submarket, River Oaks to the north and West University to the south, Greenway Plaza is a highly desirable business location for affluent professionals.

The U.S. 59/Southwest Freeway connects the Greenway Plaza submarket to other freeways.

The Woodlands
Located 28 miles north of Houston along I-45, the Woodlands we know today is vastly different than that of 40 years ago. A true Texas business hero and gentleman, the late George P. Mitchell, established the community using federal assistance from HUD’s department - The New Community Development Corporation - Title VII New Towns.

The area, north of Houston and in Montgomery County, has matured into one of the most successful master planned communities in the country.

The Woodlands Development Company, which has changed ownership several times since its establishment is now a wholly-owned subsidiary of The Howard Hughes Corporation. The success of The Woodlands motivated Hughes to acquire an additional 2,000 acres north of Conroe.

The Woodlands historically low office vacancy rate has led to more than 2.4 million square feet of new office development.
Exxon Mobil Corp’s 385-acre corporate campus to the south has solidified the long term demand trend for the area.

The Energy Corridor
Some people mistakenly associate most or all of west Houston as a part of “The Energy Corridor”. The district has a distinct boundary north and south of Interstate 10 between Kirkwood and Barker Cypress.

The area gets its name from the many oil companies, both national and international, that are located there. Some of these include Shell Oil Company, BP America and ConocoPhillips along with many other large companies have headquarters or regional offices in the area.

As the third largest employment center in the region, with over 20 million square feet of office space in the area, it offers employers new state of the art facilities to entice and keep well educated personnel.

Not only is to a great area to work, but also provides a desirable suburban lifestyle for those living there. Surrounded by two large open natural areas, the Energy Corridor has over 50 miles of trails and 26,000 acres of parks. For those interested in an active and healthy lifestyle, it is hard to beat.

The Westchase district is approximately 2,700 acres in size, with 18 million square feet of office space.
In 1973 the Westchase Corporation purchased 760 acres from the family of R.E. "Bob" Smith and development quickly followed. The Westchase District was created in the 73rd Texas State Legislature in the mid ‘90s.

The Westchase District is home to top companies like BMC Software, Haliburton, Petrobras and StatOil.

When Phillips 66 spun off from ConocoPhillips, the company acquired 14 acres in Houston’s Westchase submarket for a new global headquarters office building. The site is located off Beltway 8 West between Westheimer Road and Briar Forest Drive. The 1.1 million-square-foot facility will house all of the company’s Houston-area employees. The district is brimming with retail, restaurants, and banks and is surrounded by desirable single family residential homes.

Other Houston Submarkets include:

League City
Texas Medical Center

We'd love to have the opportunity to prove ourselves to you. If you need office space in Houston, give us a try. You will be glad you did!

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5444 Westheimer Houston office space available now - zip 77056
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9801 Westheimer Houston office space available now - zip 77042
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American General Houston office space available now - zip 77019

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Are you interested in leasing office space in the greater Houston area? Here are some facts and figures that you should know.

As 2019 starts, positive gains and gradually improving including positive absorption and drop in sublease space. According to CBRE Marketview, transaction has increased 36% higher compared to last year’s quarter 1.  Dominant transactions were in the CBD (31%), Energy Corridor (30%), North Houston (22%) and west loop or Galleria (14%). Despite of these transactions, no office delivered during the first three months of 2019. New construction activities has increased, with added new developments totaling 207,000 sq.ft office towers in the West Loop or Galleria submarket. 

Quarter 1 of this year has net absorption of negative 440,000 sq. ft. Big chunk of this negative absorption was contributed by The Energy Corridor with 220,000 sq. ft of sublease space expired and rolled vacant. However, North and Westchase submarkets contributed 400,000 sq.

Talking about vacancy rate, Houston citywide vacancy rate went down by 30 basis points from 19.8% to 19.5% compared to 2018 Quarter 4. The average suburban vacancy dropped 70 basis points from 19.8% to 19.1 % and the average CBD decreased 30 basis points from 21.4% to 21.1% quarter by quarter. However, for average class A did not show movement over the quarter at 18.7% and the average Class B vacancy rate in the CBD decreased from 31.6% to 30.3%.

Rental rate shows increase over the quarter from $29.04 per SF to $29.20 per SF.

Houston’s office investment sales volume decreased over the quarter by 37.8% to 371.5M from 597.2M in Q1 2019. The average sales price per square foot trended up from $170 to 187 per SF over the quarter.

Houston’s average cap rate of 7.3% is higher than the average US cap rate of 6.6%

The coworking trend remains and has been driven by demand as a building amenity for both landlords and tenants.

By the Numbers

100,000++ square feet adjoining space available for lease or sublease consisting 79 buildings

2.8 million square feet: The sum of fourth quarter leasing activity in the first quarter of 2019. This number had decrease from 5.1M SF compared to the last quarter of last year. The activity includes new or direct, renewals, expansions of existing buildings, sublet, and pre-leasing in proposed buildings.

7.4 Million SF Citywide available spaces.

400,000  sf++ of coworking space is scheduled to open this year.

73,300 jobs: According to Bureau of Labor Statistics, Houston’s job growth went up by 34% over the year. Employment sectors with the most significant growth include support activities for mining which grew by 9%, durable goods manufacturing up by 7.6% and construction which increased by 7.1% over the year.

2.7 million square feet: There’s no changes in the construction activity compared to last year. Developers continue to express limitation as they hold off proposed projects.

100,000 SF delivered project for the first quarter of 2019 and

50,000 SF more are being projected to be delivered by mid this year.

2.5 Million Sq. Ft. spaces are still under construction.

$29.28 per square foot: Citywide overall asking rate.

$35.59 Class A average rental rate per SF

$45.80 CBD Class A rental rate.

$32.29 per SF for the Suburban Class A.

10-40% decreased footprint: It is expected that more favorable markets to enjoy in the Year 2019 to 2020. This is due to the continuation of space compression resulted from efficient space planning.

-439,749 square feet: Houston overall net absorption during first quarter of 2019.

2,776,925 square feet: Overall number for all under construction in Houston.

5-7 years: CBRE states that it may take this long for the Houston office market to absorb six years of speculative construction, which began in 2010.

20-26 square feet: The amount of office space demanded per job, according to CBRE.

If you are ready to take advantage of the ample opportunities that the Houston office space market has to offer, let OfficeFinder help you find your new space. Contact us to get started today.

Useful Statistics for businesses looking for office space in Houston
  Houston TX State
2016 Estimated Population 2,240,582 26,956,435
Median Age 32.7 34.2
Housing Units 937,245 10,441,643
Occupied 831,166 9,289,554
Owned 359,118 5,747,458
Rented 472,048 3,542,096
Average Household Size 2.66 2.84
Rental Vacancy Rate 8.5% 7.6%
Homeowner Vacancy Rate 1.7% 1.6%
Median Home Value $140,300 $142,700
Median Monthly Rental Cost $898 $911
Estimated Mean Income $86,013 $88,231
Median Household Income $47,010 $54,727
Percent of Individuals below poverty level 21.9% 16.7%
Educational Attainment: Percent high school graduate or higher 77.4% 82.3%
Educational Attainment: Percent high school graduate 22.7% 25.1%
Educational Attainment: Percent with some College 18.6% 22.4%
Educational Attainment: Percent bachelor degree or higher 31.2% 28.1%
Average Commute time in minutes 26.8 25.9
Commute 1,074,683 12,237,558
Commute by car, truck or other vehicle - Drive Alone 819,711 9,830,530
Commute by car, truck or other vehicle - Carpool 126,007 1,297,571
Use Public Transportation 43,353 188,919
Work from Home 37,108 520,981
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