Law firms outpace energy companies in downtown Houston office leasing

Plus: Former Tower Theatre building to become classy new jazz club in Montrose

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One of the several green space balconies of the newly built office skyscraper at 1550 on the Green on Wednesday, Feb. 14, 2024, in Houston. This is developer Skanska's most sustainable office tower in Texas to date.

Law firms outpace energy firms on downtown office leasing

Downtown has always been popular among law firms, in part because of its proximity to courthouses. This year, law firms are making up a bigger share of downtown office leasing overall.

In a string of recent deals, Houston and national law firms have announced full-floor leases representing expansions, relocations and an entry to the market. The firms are upgrading their workspaces, often in 1980s-era buildings that have been updated by landlords to compete with newer offerings. Plus, downtown's newest building, anchored by Norton Rose Fulbright, will gain another law firm next year.

Law firms represent 43% of the total downtown square footage leased in 2024 compared with 25% for energy firms, according to commercial real estate firm Savills. In 2022, when leasing totals were much higher for both sectors, law firms made up 26% of the total compared with 56% for energy companies.

 

Katherine Feser, Real estate reporter katherine.feser@houstonchronicle.com

 

 

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ALL-ACCESS SALE! 6 Months for 99¢ Get digital access to local news and more. Act Now SALE ENDS OCT. 13 | CANCEL ANYTIME

        

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