DALLAS - The region's ongoing job gains and the continued tight market conditions has resulted in significant rental rate growth over the past two years in half of Dallas' submarkets, according to the latest JLL data for third quarter 2015.
Year-over-year, rate increases for Class A and B space now average 6.3 percent, and range from 1.5 percent in Stemmons Fwy. to 9.0 percent for North Central Expressway.
Overall, new construction has been in balance with both net absorption and new deliveries coming in at just under 4 million sf each.
Dallas is currently posting almost double the historic average of demand for space. The 7.7 million-sf construction pipeline and additional projects that may break ground suggest that vacancy may be at its low point in this cycle.
For the full report click JLL Dallas Office Insight to Stats 3Q 2015 (PDF).
Be sure to check out Dallas-Fort Worth office reports from Market Research.
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