Don't Wait for Rent Drops
If you're waiting to make lease decisions, hoping oil prices will cause office landlords to slash rents, you're out of luck, Avison Young managing director Rand Stephens blogged yesterday. Houston rents stayed stable through the last three major economic downturns. Rand and Avison Young Houston head of research Jeannie Tobin advise tenants to go ahead with their long-term strategic real estate decisions that impact operations or a company's culture. On the other hand, it might be wise to delay decisions about non-core facilities or expanding for future business, they say.