Local Area is Behind State Averages in Office Space and New Development

Screenshot from https://trerc.tamu.edu/blog/out-of-office-few-options-in-college-station-bryan/

The College Station-Bryan metro area has less available office space compared to the state average.

Dr. Daniel Oney, Research Director at the Texas Real Estate Research Center at Texas A&M, recently wrote a blog to call awareness to what he says is the slow and steady nature of the local office market.

“I am concerned about the long-term options for businesses in that market. If there is not a little bit more office space, then it will become a drag on development in the long run,” said Dr. Oney.

According to Oney’s blog post, overall office vacancy rates are about 8 percent locally, while they are 16 percent statewide.

“If you’re a building owner, you love to have the 8 percent vacancy rate, but from a tenant standpoint, there is not a lot to choose from. So if you’re a company that is considering a relocation or expansion in College Station-Bryan, it is difficult,” said Dr. Oney.

College Station-Bryan lags behind Texas averages in both office space and new development.

CLICK HERE to read Dr. Oney’s blog post.

Listen to “College Station-Bryan Area is Behind State Averages in Office Space and New Development” on Spreaker.

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