North Texas Office Construction Up By 50 PercentNorth Texas Office Construction Up By 50 Percenthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=102602015-03-31T14:17:00Z2015-03-31T00:00:00Z

The boom has grown to 28 projects, most in Dallas' northern suburbs and the Uptown area. About a third of the projects are for specific corporations, and almost 60 percent of space is preleased.

In previous construction booms, most office development didn’t lease until projects were completed.

"This cycle has been a little different, and we are seeing economic growth that continues to drive office use and companies continuing to look at the DFW market," said Cushman & Wakefield Executive Vice President Rick Hughes. "There is a larger demand for office space today than we saw in the past, when we had overbuilding."

Almost half of the office space being built is in the West Plano and Frisco market. Construction is also high in the Telecom Corridor. More than 1.2 million sf of office development is planned in downtown Dallas and Uptown.

Speaking of downtown Dallas, a new report from CBRE showed that the market ranked fourth nationally last year in office space demand, finishing 2014 with 2.5 million sf of positive net absorption. Houston ranked second with 5.5 million sf, coming in well behind Manhattan (7.3 million sf).

Dallas-Fort Worth-Arlington
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