nasa clear lake office market report 3 q-2010
DESCRIPTION
TRANSCRIPT
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Accelerating success.
NASA / Clear Lake Office Market Report3Q, 2010
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Market Area
NASA / Clear Lake Office Submarket
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Market Snapshot
Class Total Inventory
S.F.
DirectAvailable
S.F.
PercentLeased
Sublease Available
S.F.
TotalAvailable
S.F.
TotalVacancy
Rate
Wt. Avg.Asking
Rent
A 1,500,938 171,064 88.60% 37,319 208,383 13.88% $22.70
B 3,273,414 632,197 80.69% 68,346 678,543 20.73% $18.69
C 1,118,816 205,882 81.60% 18,094 223,976 20.02% $15.51
Total 5,893,168 1,009,143 82.88% 123,759 1,110,902 18.85% $18.72
NASA / Clear Lake Office Submarket
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Market Snapshot
Asking Rental Rates by Building Class
A B C All $-
$5.00
$10.00
$15.00
$20.00
$25.00
$22.70
$18.69 $15.51
$18.72
Average Asking Rent
• Annual Rate PSF (full service)
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Market Snapshot
Occupancy Rates by Class
A B C All 76.00%
78.00%
80.00%
82.00%
84.00%
86.00%
88.00%
90.00%88.60%
80.69%81.60%
82.88%
Percent Leased
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VacancyNASA / Clear Lake Office Submarket
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Vacancy
Direct Available Square Feet by Class
171,064
632,197
205,882
4,884,025 ABCLeased
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Vacancy
Building Address Class Rentable Area
Total Available
Largest Contiguous
Gemini Plaza 1150 Gemini B 158,000 158,000 158,000
Boeing 13100 Space Center Blvd. B 180,000 95,300 90,000
Galaxy II 455 E. Medical Center A 110,000 66,000 66,000
1275 Space Park 1275 Space Park Drive C 43,222 43,222 43,222
Boeing 3700 Bay Area Blvd. A 399,088 56,705 40,000
Clear Lake Central I 555 Gemini Avenue B 124,908 40,000 40,000
Flint Ridge Plaza 201 Flint Ridge Road B 45,000 32,841 22,500
16055 Space Center 16055 Space Center Blvd. A 147,000 32,841 22,400
Largest Contiguous Blocks of Available Space
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The Impact of Johnson Space Center
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The NASA Equation
• NASA Related tenants occupy over 1.9 million square feet
• 33% of the total office inventory is occupied NASA related tenants
• 40% of the currently leased space is occupied by NASA related
tenants17%
33%
49% AvailableNASA / AerospaceOther Tenants
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Coy Davidson
Coy DavidsonSenior Vice PresidentOffice Services GroupDirect: 713.830.2128coy.davidson@colliers.comwww.coy.davidson.comwww.colliers.com