shreveport

May 11, 2016 Comments Off on Oil Prices Impact Shreveport Office Sector Views: 239 California News, Louisiana, National News, Southeast

Oil Prices Impact Shreveport Office Sector

Mention “oil price impact,” and the first thought might be Houston. But secondary markets such as Shreveport, LA have also been hit hard. Shreveport is dependent on the Haynesville Shale. When oil and gas prices decreased, so did consolidations and layoffs. At the height of the Haynesville boom, office space in downtown Shreveport was difficult to find. But many downtown buildings now have large vacancies.

“As leases come to the end of their terms, the results are disappointing for the companies, their employees, suppliers and ultimately our landlords,” said Anne Dixon with Vintage Realty Co. “With downsizing and closing of offices, there is a negative impact on the bottom lines of our property owners, as well as the restaurant and other service providers in our downtown area.”

Read More at Shreveport Times

Connect with Vintage Realty

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , , , ,

Comments are closed.