[IAmGarrett]

Currently over 20% of Houston office space sits empty (compare to Denver/Chicago ~13%). That’s because we haven’t even absorbed the empty office space left from the 2015 oil downturn. Office owners are now doing very favorable deals for new tenants as they brace for the coming bankruptcies, rent relief letters, and space reductions. This is likely to be painful for many more months in Houston, even if there is a quick recovery from COV-19.