Let’s face it, the Galleria area of Houston is Houston’s financial and upscale shopping mecca. Many large companies have their offices in the vicinity to take advantage of shopping, restaurants and the Galleria’s central location. However, this concentration of office space and huge shopping draw have created a traffic nightmare, especially during the shopping seasons.
Bellaire, TX is located on the West 610 Loop and approximately 1 mile south of the Galleria and the Hwy 59/610w interchange. During typical daytime traffic, it is only a 5 minute commute from Bellaire to the Galleria. Yet at 5 PM, it can be a 30 minute difference in a commute back out to Sugarland, or elsewhere when comparing the Galleria to Bellaire. Living near Sienna Plantation, I chose to move my office from Sugar Land to the city of Bellaire. Why did a seasoned commercial real estate broker choose Bellaire? We chose Bellaire’s office market so our office could be closer to our clients and competitors, and more importantly, to be more centrally located to allow access to our various properties and customers citywide. All of this without the added traffic just 5 minutes to the North.
Unfortunately, we were not the only ones wanting space in Bellaire. Office rents in Bellaire are significantly higher than the Galleria for comparable space. With only about 12 to 15 office buildings located in Bellaire, your choices are limited and to top if off, one owner has 4 of the larger and most popular buildings. The owner is able to set pricing for the market. As the time of this post, rents in the area for A/B properties range from around $24 to $29 PSF/year full service and vacancies are low.
Given our recent move, we are painfully familiar with the market, and therefore knowledgeable of its availabilities. If you need to lease office space in Bellaire, or the Houston area, please give us call.
Eric Hughes – Broker/Owner
Centermark Commercial Real Estate
6750 West Loop South, Suite 675
Bellaire, Texas 77401