Memorial Retail

Memorial

Office Space Market Report

Number of Listings (last 90 days)
2
Median Rate ($/sqft/yr)
$25
Median Size (sqft)
23,650
As of: February 23, 2017

Memorial Rates

The typical asking rate per listing is in the $20's per square foot per year. The Memorial submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $13 per sqft per year. That's a 33% decrease in rent.

Compared to the rest of the Houston Metro market, the Memorial submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.

Memorial Listing Supply

In the last 90 days, 2 listings have been listed, which means leases might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 50% of the office spaces in the Memorial are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.

Even though the median size is 23,650 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are around 7 floors. Most buildings in this region were built in 1983 and are Class A.

Memorial Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this market. Commute by taxi is the most popular way to get to work amongst Memorial folk. Commuting around an hour a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Memorial.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Memorial.
Research

Houston Submarkets