Nov 25, 2015
Expensive office rent? Houston’s Louisiana Street makes national list
HOUSTON - The booming oil and gas industry is driving up office rents on downtown’s Louisiana Street, which is home to energy players such as Chevron Corporation, Enterprise Products, Center Point...
HOUSTON – The booming oil and gas industry is driving up office rents on downtown’s Louisiana Street, which is home to energy players such as Chevron Corporation, Enterprise Products, Center Point Energy and Kinder Morgan, to name a few. 
Rents were up 11.8 percent to an average of $38.82 per sf on Louisiana, which ranked No. 16 on a national list of most expensive streets for office space compiled by commercial real estate firm Jones Lang LaSalle.
Office space on Sand Hill Road in Menlo Park, Calif. has the most expensive rents at nearly $111 per sf.
New York City followed with $102 per sf.
Texas cities that made the list include Austin’s Congress Avenue with $42.04 per sf and Dallas’ McKinney Avenue with $38.55 per sf.
Nationally, rental rates on the most expensive streets increased on average 10.9 percent since 2011 thanks to the economic recovery and a lack of new construction, according to the report.
See JLL’s “America’s Most Expensive streets” for the full report.
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