Why go into the office when your job can be completed from home? Photo via Getty Images

Anew study of the office rental market in the U.S. has revealed Houston has the second highest rate of office vacancies nationwide. In fact, the total square footage of Houston’s empty office space adds up to 1,153 football fields.

The report by Indian service provider Outsource2India discovered 18.6 percent of all office space in Houston is sitting empty, a figure that has grown by 1.6 percent since 2023.

To put the football fields comparison into perspective, that means about 1,522 acres of office space around the city is sitting empty, or nearly 66.30 million square feet.

Rent prices for office space around the U.S. has largely remained unchanged, the report says, except for a very slight uptick in Houston and Austin. Rent prices have gone up just one dollar since the last year to $30 per square foot in Houston, and $44 in Austin.

It's not hard to see why so many offices are sitting empty, especially considering the rising demand (and popularity) of remote and hybrid professions since the COVID-19 pandemic. In a 2020 analysis, Forbes said companies prioritizing the "remote work revolution" saw an increase in teleworker productivity, performance, engagement, retention, and profitability. In 2024, secondary benefits of flexible work environments include smaller carbon footprints, more women in the workplace, reduced operating costs, and more.

Outsource2India suggests major businesses in cities like Houston will need to reimagine their work culture and office spaces in order to compete with flexible work models.

“As remote work continues to reshape workplace dynamics, there is a pressing need for this market to evolve and adapt,” the report said.

After all, Houston commutes aren't getting any easier, and more workers are starting to look for less commute-heavy vocations in suburbs with top job markets.

San Francisco was the only U.S. metro area with a higher office vacancy rate than Houston, at 21.7 percent. However, the actual square footage of empty office space in the city only adds up to 721 football fields, or nearly 952 acres of space.

Elsewhere in Texas, Dallas-Fort Worth has the third highest office vacancy rate in the nation, at 18 percent, followed by Austin with a 16.7 percent vacancy rate. According to the study's football field comparison, the total square footage of empty office space in Dallas and Austin equals 1,328 and 392 football fields, respectively.

The top 10 metro areas with the highest office vacancy rates are:

  • No. 1 – San Francisco, California
  • No. 2 – Houston, Texas
  • No. 3 – Dallas, Texas
  • No. 4 – Austin, Texas
  • No. 5 – Washington, D.C.
  • No. 6 – Chicago, Illinois
  • No. 7 – Denver, Colorado
  • No. 8 – Phoenix, Arizona
  • No. 9 – Los Angeles, California
  • No. 10 – San Jose, California

Outsource2India tracked office rent prices in major U.S. metropolitan areas for 2023 and 2024 to discover the top 10 metro areas with the highest office vacancy rates using data from the National Association of Realtors (NAR).

The full report can be found on outsource2india.com.

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This article originally ran on CultureMap.

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Houston company plans lunar mission to test clean energy resource

lunar power

Houston-based natural resource and lunar development company Black Moon Energy Corporation (BMEC) announced that it is planning a robotic mission to the surface of the moon within the next five years.

The company has engaged NASA’s Jet Propulsion Laboratory (JPL) and Caltech to carry out the mission’s robotic systems, scientific instrumentation, data acquisition and mission operations. Black Moon will lead mission management, resource-assessment strategy and large-scale operations planning.

The goal of the year-long expedition will be to gather data and perform operations to determine the feasibility of a lunar Helium-3 supply chain. Helium-3 is abundant on the surface of the moon, but extremely rare on Earth. BMEC believes it could be a solution to the world's accelerating energy challenges.

Helium-3 fusion releases 4 million times more energy than the combustion of fossil fuels and four times more energy than traditional nuclear fission in a “clean” manner with no primary radioactive products or environmental issues, according to BMEC. Additionally, the company estimates that there is enough lunar Helium-3 to power humanity for thousands of years.

"By combining Black Moon's expertise in resource development with JPL and Caltech's renowned scientific and engineering capabilities, we are building the knowledge base required to power a new era of clean, abundant, and affordable energy for the entire planet," David Warden, CEO of BMEC, said in a news release.

The company says that information gathered from the planned lunar mission will support potential applications in fusion power generation, national security systems, quantum computing, radiation detection, medical imaging and cryogenic technologies.

Black Moon Energy was founded in 2022 by David Warden, Leroy Chiao, Peter Jones and Dan Warden. Chiao served as a NASA astronaut for 15 years. The other founders have held positions at Rice University, Schlumberger, BP and other major energy space organizations.

Houston co. makes breakthrough in clean carbon fiber manufacturing

Future of Fiber

Houston-based Mars Materials has made a breakthrough in turning stored carbon dioxide into everyday products.

In partnership with the Textile Innovation Engine of North Carolina and North Carolina State University, Mars Materials turned its CO2-derived product into a high-quality raw material for producing carbon fiber, according to a news release. According to the company, the product works "exactly like" the traditional chemical used to create carbon fiber that is derived from oil and coal.

Testing showed the end product met the high standards required for high-performance carbon fiber. Carbon fiber finds its way into aircraft, missile components, drones, racecars, golf clubs, snowboards, bridges, X-ray equipment, prosthetics, wind turbine blades and more.

The successful test “keeps a promise we made to our investors and the industry,” Aaron Fitzgerald, co-founder and CEO of Mars Materials, said in the release. “We proved we can make carbon fiber from the air without losing any quality.”

“Just as we did with our water-soluble polymers, getting it right on the first try allows us to move faster,” Fitzgerald adds. “We can now focus on scaling up production to accelerate bringing manufacturing of this critical material back to the U.S.”

Mars Materials, founded in 2019, converts captured carbon into resources, such as carbon fiber and wastewater treatment chemicals. Investors include Untapped Capital, Prithvi Ventures, Climate Capital Collective, Overlap Holdings, BlackTech Capital, Jonathan Azoff, Nate Salpeter and Brian Andrés Helmick.

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This article originally appeared on our sister site, EnergyCapitalHTX.com.

Rice launches 'brain economy' initiative at World Economic Forum

brain health

Rice University has launched an initiative that will position “brain capital” as a key asset in the 21st century.

Rice rolled out the Global Brain Economy Initiative on Jan. 21 at the World Economic Forum in Davos, Switzerland.

“This initiative positions brain capital, or brain health and brain skills, at the forefront of global economic development, particularly in the age of artificial intelligence,” the university said in a news release.

The Rice-based initiative, whose partners are the University of Texas Medical Branch in Galveston and the Davos Alzheimer’s Collaborative, aligns with a recent World Economic Forum and McKinsey Health Institute report titled “The Human Advantage: Stronger Brains in the Age of AI,” co-authored by Rice researcher Harris Eyre. Eyre is leading the initiative.

“With an aging population and the rapid transformation of work and society driven by AI, the urgency has never been greater to focus on brain health and build adaptable human skills—both to support people and communities and to ensure long-term economic stability,” says Amy Dittmar, a Rice provost and executive vice president for academic affairs.

This initiative works closely with the recently launched Rice Brain Institute.

In its first year, the initiative will establish a global brain research agenda, piloting brain economy strategies in certain regions, and introducing a framework to guide financial backers and leaders. It will also advocate for public policies tied to the brain economy.

The report from the McKinsey Health Institute and World Economic Forum estimates that advancements in brain health could generate $6.2 trillion in economic gains by 2050.

“Stronger brains build stronger societies,” Eyre says. “When we invest in brain health and brain skills, we contribute to long-term growth, resilience, and shared prosperity.”