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O’Connor Office Forecast Speakers: Chadd Bolding, Colliers International; Ryan Bishop, Stream Realty Partners

Takeaway:  Although office vacancies have not reached the all-time highs attained during the ‘80s Oil Depression in Houston, they have come close.  The consensus is that we ‘hit bottom’ in 2016, but that the recovery will be long and slow, providing financial heartburn for landlords and good opportunities for tenants.

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Forecasting 2017: A preview of what is to come for Office and Industrial markets

BY BRANDI SMITH

“It’s certainly better than it was.”

That may not sound like a ringing endorsement, but Rand Stephens, Managing Director and Principal of Avison Young’s Houston office, is hedging his bets after a rough 2016.

“Just starting out in January 2016, oil went down to $28 a barrel. There were a lot of gloomy faces in Houston,” he says. “Houston is an incredibly optimistic place, but there is definitely an air of pessimism.”

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