realestate

CBD office market sees rare bright spot amidst high vacancy rates

Reynolds Frizzell Expands Downtown Houston Office Space at 1100 Louisiana Street Tower.

R
eynolds Frizzell, a Houston-based litigation specialist, is expanding its presence in the city's central business district. The firm has leased an additional 8,000 square feet at 1100 Louisiana Street, a 1.3 million-square-foot tower in downtown Houston, bringing its total space to 23,000 square feet on one floor. This move allows Reynolds Frizzell to stay in the building it already occupies, rather than relocating to another property.

    The lease deal includes an option for future expansion and a tenant improvement allowance, which will be used to build out a lounge within the office space. The building is home to several major tenants, including Enterprise Products and King & Spalding, as well as 44,000 square feet of retail space and a parking garage with over 2,200 spaces.

    Despite this recent lease, Houston's downtown office market remains challenging, with nearly 28% of its 42.1 million square feet of office space vacant. No new office developments are currently underway in the area. However, other parts of the city, such as the Energy Corridor, have seen significant leasing activity, including a 749,000-square-foot absorption in the past year.

CBD office market shows growth amidst high vacancy rates in downtown area.