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An international law firm will be the first major tenant of a 48-story building under construction in downtown Houston, the developer announced Monday.
[...] an oil price plunge dried up capital for new office tower projects, particularly ones built on speculation, or without tenants.
Thinking back to the last economic downturn, Houston and the economy at large are in a far better position than in 2009, Mooz said in an email responding to follow-up questions.
Asked whether Hines is worried about low oil prices, he said: Of course things are moving a bit more slowly with our energy companies now that oil is no longer at $100.
[...] real estate firm CBRE reported recently the sublease space glut has hit an all-time high and predicted the number will plateau at 10 million square feet by year's end.
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