Galleria Office Space for Rent
“Galleria” refers to both the neighborhood of “Uptown Houston” and an upscale, mixed-use urban development and shopping center in the area. The Galleria is the seventh-largest mall in the United States and most extensive in Texas. Each year, The Galleria attracts more than 35 million people, earning it the reputation as one of the most visited locations in Greater Houston. It is anchored by Macy’s, Neiman Marcus, Nordstrom, and Saks Fifth Avenue Flagship store. In addition to the retail center, hotels, and health club, the Galleria is a popular location to lease offices. It includes about 2.4 million square feet of leasable office space.
The neighborhood of Galleria boasts a variety of available commercial spaces, including first-floor suites, coworking spaces, and virtual office offerings. Galleria office space tenants include financial services firms, law firms, and energy companies, ranging from multinational corporations to local businesses. Lease offices in Galleria, and you’ll work alongside Merrill Lynch, UBS AG, and Citigroup. Galleria’s “high quality of life combines the best of city living with the calm, secure and intimate feeling of a neighborhood,” according to Uptown Houston’s website. What are you waiting for? The search ends here!
Galleria Office Space | Lease Data and Trends
|Class A Office Space||$39/sf||23.7%||18,000,000 sf|
|Class B Office Space||$28.50/sf||26.3%||5,000,000 sf|
|Greater Houston||$32/sf||25.5%||170,000,000 sf|
The Galleria office space sub-market features nearly 23 million square feet of office space inventory as of Q4 of 2020. 18 million square feet of space is categorized as Class A, renting at an average of around $39 per square foot. The remaining Class B space rents at a more affordable $28.50 per square foot. Approximately 24% of office space in Galleria is vacant and available to new renters, slightly below the Houston metro average of 25.5%. Vacancy rates have steadily climbed since 2015, leading to a decline in new construction and an increase in Houston sublease activity.
Galleria is one of the more expensive sub-markets outside of Downtown Houston, with asking rents similar to those in Katy, The Woodlands, Greenway Plaza, and Midtown. Galleria and the Central Business District garnered about 1.4 million sqft of lease transactions in Q4 of 2020. Notably, JLL signed a long-term lease for an 81,999 sqft workspace at 200 Park Place in Galleria. Contact us for more information and to find commercial spaces to lease in Galleria.
What Our Brokers Say About Galleria Office Space for Lease
The Galleria Financial Center, a Class A property that consists of two buildings, is occupied by many financial, legal, and energy firms. It offers on-site property management, 24-hour security, retail shops, and card-key access. The other two office buildings in the area are Post Oak Tower and the Galleria Tower. Galleria Office Tower offers private offices, dedicated desks, meeting rooms, parking, and event space. Additionally, the Williams Tower is connected by a walkway. Williams Tower is a 64-floor skyscraper with 1.4 million square feet of space. Notably, this building has received numerous awards, such as an Award for Architectural Excellence from AISC and the Environmental Vision Award from the Houston Corporate Recycling Council. The office towers and hotels are owned and managed separately from the shopping center.
If your team is looking for virtual office offerings, coworking spaces, or room for networking events in a modern space, there are a myriad of coworking options that offer space for businesses of any size to work without distractions.
In addition to the wealth of Class A office space, Galleria commercial space is in high demand because of its great location. Downtown, Midtown, Texas Medical Center, and Sugar Land are all nearby. Woodway Drive borders Uptown/Galleria to the north, Richmond Avenue to the south, I-610 to the east, and Yorktown Street to the west. Easily access Uptown via the West Loop. The Metropolitan Transit Authority of Harris County, Texas, also provides bus service to Galleria. Nearby routes include 20 Canal/Memorial, 25 Richmond, 32 Renwick/San Felipe, 47 Hillcroft, 49 Chimney Rock/South Post Oak, 70 Memorial, and 82 Westheimer. The Uptown/Gold Line, an expansion of METRORail, serves the Uptown Houston area as well.
Galleria is home to more than 2,000 businesses, representing nearly 15% of Houston’s total office space inventory. Galleria ranks as one of the 20 largest business districts in the United States, comparable in size to the downtown areas in Pittsburgh and Denver. Notable employers in the area include 3D/International, Air Liquide America, AON Risk Services of Texas Inc., General Electric, and Dow Chemical.
Houston Galleria History
Gerald D. Hines developed the Galleria, which opened in 1970. The center was modeled after the Galleria Vittorio Emanuele II in Milan and mimicked its distinctive glazed barrel vault, spanning the central axis of the mall. Upon opening, the mall had 600,000 ft² (56,000 m²) of retail space. Today, that has expanded to 2.4 million square feet. Galleria is also home to Texas’ first Tesla Motors and Prada stores.