The Woodlands office submarket records negative net absorption in Q2 2020

1. Market Indicators
Class A Class B
VACANCY
NET ABSORPTION
CONSTRUCTION
RENTAL RATE
NEW SUPPLY
The Woodlands
Trinity Bay
Galveston Bay
225
Bellaire
The Woodlands
Pasadena
IAH
EFD
HOU
Cypress
Katy
Brookshire
Lake
Houston
La Porte
146
League City
Kingwood
Spring
Pearland
35
35
Richmond
Waller
Hockley
242
1488
1488
Conroe
Magnolia
Willis
Lake
Conroe
Crosby
CBD
Ship
Channel
Clear Lake
Baytown
Mont Belvieu
Dayton
149
149
Cleveland
105
105
105
321
330
Alvin
Humble
Atascocita
Sugar Land
Tomball
2920
2920
2920
The Woodlands office submarket records
negative net absorption in Q2 2020
Research Snapshot
THE WOODLANDS | OFFICE
Q2 2020
STATISTICAL SUMMARY
1488
2920
249
1314
242
Huffsmith-Kohrville
WoodlandsParkway
ResearchForest
Needham Rd.
Grogan’sMillRd.
Spring Stuebner
GoslingRd.
Kuykendahl
ToHoustonCBD
WOODLANDS SUBMARKET MAP
VACANCY
RENTAL
RATE
Class # of Bldgs. Total (SF) (SF) Rate (%) (SF) Rate (%) Total (SF) Q2-2020 Q1-2020 Q2-2020 Q1-2020
AVG
($/SF)
The Woodlands
A 57 13,027,989 1,036,899 8.0% 94,705 0.7% 1,131,604 8.7% 8.0% -83,289 277,596 $37.75
B 60 4,078,935 825,960 20.2% 22,579 0.6% 848,539 20.8% 19.7% -46,053 -385,869 $33.51
C 6 169,558 2,220 1.3% 0 0.0% 2,220 1.3% 1.3% 0 -2,220 $18.62
Total 123 17,276,482 1,865,079 10.8% 117,284 0.7% 1,982,363 11.5% 9.8% -129,342 -110,493 $35.85
INVENTORY DIRECT VACANCY
SUBLEASE
VACANCY VACANCY RATE (%)
NET ABSORPTION
(SF)
The Woodlands office market posted negative net absorption of 129,342 SF in
the second quarter, pushing the mid-year 2020 total net absorption to negative
239,835 SF. Class A space recorded negative net absorption in Q2, however,
adding that to the 277,596 SF of positive net absorption recorded in the first
quarter brings the Class A mid-year net absorption total to positive 194,307 SF.
The Class A negative absorption recorded in Q2 2020 was due to Occidental
Petroleum vacating 134,000 SF in The Woodlands Towers at The Waterway.
Since tenants typically do not move into lease space immediately after signing a
lease, absorption lags and is reflected in later months. We anticipate absorption
totals to trail longer than usual in the short-term due to the “stay at home” orders
amid COVID-19, so absorption is likely to remain negative heading into the second
half of 2020.
Lisa Bridges Director of Market Research | Houston
HOUSTONTEXAS THE WOODLANDS

2. 2 The Woodlands Research Snapshot | Q2 2020 | Office | Colliers International2
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.
0.0
5.0
10.0
15.0
20.0
25.0
$18.00
$20.00
$22.00
$24.00
$26.00
$28.00
$30.00
$32.00
$34.00
Class B Rental Rate and Vacancy Percentage
The Woodlands, TX
Class B Rents Class B Vacancy
*Vacancy percentage includes direct and sublease space.
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
Available Sublease Space
The Woodlands
Class A Class B
Available Sublease Space
Q2 2020
Class A: 206,368 SF or 1.6% Class B: 38,199 SF or 0.8%
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
$24.00
$26.00
$28.00
$30.00
$32.00
$34.00
$36.00
$38.00
$40.00
Class A Rental Rate and Vacancy Percentage
The Woodlands, TX
Class A Rents Class A Vacancy
*Vacancy percentage includes direct and sublease space.

3. 3 North American Research & Forecast Report | Q4 2014 | Office Market Outlook | Colliers International
Copyright © 2015 Colliers International.
The information contained herein has been obtained from sources deemed reliable. While
every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No
responsibility is assumed for any inaccuracies. Readers are encouraged to consult their
professional advisors prior to acting on any of the material contained in this report.
Colliers International | Market
000 Address, Suite #
000 Address, Suite #
+1 000 000 0000
colliers.com/<<market>>
FOR MORE INFORMATION
Lisa Bridges
Director of Market Research | Houston
+1 713 830 2125
lisa.bridges@colliers.com
3 North American Research & Forecast Report | Q4 2014 | Office Market Outlook | Colliers International
Copyright © 2015 Colliers International.
The information contained herein has been obtained from sources deemed reliable. While
every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No
responsibility is assumed for any inaccuracies. Readers are encouraged to consult their
professional advisors prior to acting on any of the material contained in this report.
Colliers International | Market
000 Address, Suite #
000 Address, Suite #
+1 000 000 0000
colliers.com/<<market>>
3 North American Research & Forecast Report | Q4 2014 | Office Market Outlook | Colliers International
Copyright © 2020 Colliers International.
The information contained herein has been obtained from sources deemed reliable. While
every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No
responsibility is assumed for any inaccuracies. Readers are encouraged to consult their
professional advisors prior to acting on any of the material contained in this report.
Colliers International | The Woodlands
1790 Hughes Landing Blvd., Suite 250
The Woodlands, TX 77380
+1 713 830 4011
colliers.com/thewoodlands
Absorption and New Supply
WOODLANDS CLASS A OFFICE
WOODLANDS CLASS B OFFICE
-400,000
-200,000
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
1,800,000
2,000,000
2,200,000
2,400,000
2,600,000
Net Absorption New Supply
-500,000
-400,000
-300,000
-200,000
-100,000
0
100,000
200,000
Net Absorption New Supply

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