The troubling news about the nation’s economy may really be a glimmer of good news for Texas firms looking to cut costs by renegotiating their office space leases or moving to new space.
“If you are in the position right now where you want to stay in the building and you want to extend your lease, this is a great time to go talk to your landlord about different terms,” says Jim Leary, executive director for Akin Gump Strauss Hauer & Feld. “Some landlords are hurting, too, because they have overextended because they’ve bought new buildings over the past two or three years.”
