Report | Houston Law Firm Outlook - 2015
While leasing activity has slowed, Houston law firms looking for Trophy and Class A properties in the CBD may find it difficult to find suitable space, as many properties are well leased in the most sought-after addresses.
Overall, though, the market has a large amount of sublease space that allows firms to potentially lease large spaces at a deeply discounted rate. Landlords are also making more concessions to tenants in the form of greater TI allowances and more months of free rent.
Rents are expected to drop by 5 percent on average over the next 12 months, as the Houston market leans more tenant-favorable again in 2016.
Our local Law Firm Perspective provides a thorough overview of the Houston market to help you better shape your strategy. We explore conditions across Houston’s submarkets, from rental rates—including TI allowances and discounts for Class B space—to demand among professional and business services firms.
(Click here to see an overview of 2015 national law firm trends and market comparisons.)
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