Report | Houston Law Firm Perspective - 2016
Long-term, Trophy-quality sublease spaces in Houston's CBD continue to arrive to market as energy firms shed excess space, allowing law firms to occupy traditionally sought after buildings like One Shell Plaza and BG Group Place at a discount. Concessions, such as tenant improvement allowances and rent abatements, have increased as landlords compete to maintain occupancy and attract credit-worthy tenants. Despite falling rental rates, occupancy costs remain pronounced, buoyed by rising operating expenses.
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