Categorized | Residential

Houston’s Louisiana Street Named One of the Nation’s Most Expensive

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With yearly rents averaging over thirty-five dollars per square foot, Louisiana Street in Houston, Texas has been named one of the most expensive streets in the United States. The street includes the ING Clarion skyscraper that is home to Goldman Sachs, the US Attorney’s Office, and Dynegy. The skyscraper is the most expensive in the city of Houston, valued at five hundred and fifty million dollars.

Other streets and developments within the city of Houston are looking to catch up to Louisiana Street. With the construction of many close-in retail properties, urban centers are able to demand higher rent prices than ever before. Many urban centers generate high amounts of pedestrian foot traffic, making them ideal for retailers. Various retails, such as Michaels, Walmart, Sports Authority, and more are all looking to lease property in the higher end urban areas of Houston.

Although Louisiana Street made the list as being one of the most expensive streets in the country, it pales in comparison to the top three. Sand Hill Road in Menlo Park, California has been ranked as the most expensive. Rents on that street run as high as one hundred and fourteen dollars per square foot. Fifth Avenue in New York City comes in at number two, with rents topping ninety-seven dollars per square foot. Finally, Greenwich Avenue in Greenwich, Connecticut ranks at number three, with rents costing as much as ninety dollars per square foot.

Despite not being in the top three, it is clear that properties on Louisiana Street are in high demand, and surrounding streets are certainly benefitting, and coming close to matching the higher rent figures.

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About Josh Johnson

Josh is the main writer for the Residential category. He also helps out on other categories when needed, mainly the International section.

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