Office Space: Houston Tenants Taking a Longer View
October 4, 2010
By: Nancy Sarnoff

In one part of town, an oil field service company is consolidating its employees — moving them into smaller office space than they occupy now. In another part, a power company is expanding to accommodate anticipated growth. ...

... Over the last three months, occupied office space experienced its first quarterly growth since 2008, according to the latest research from CB Richard Ellis.

Those who work in the commercial-property market say leasing activity has picked up because companies are more willing to make decisions about what to do about their expiring leases or unused space. ...

...Very conservative’

Leasing broker Mark O’Donnell has several clients who are scaling back their space – one by more than 100,000 square feet.

“Companies are being very conservative in what they do,” said O’Donnell, who works for the Houston office of Studley. ...

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