Uptown office rents hit record highsUptown office rents hit record highshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=131662016-05-12T05:00:00Z2016-05-12T16:00:00Z

​DALLAS – ​​Uptown office rents have topped the $50-per-sf mark for the first time.

“Based on recent proposals, rents continue to skyrocket in these premier, existing assets, and are now coming in at around $52 per sf,” said Walter Bialas, vice president with JLL. “We must emphasize that these existing buildings are not run-of-the-mill Class A properties. They are the premiere players in the submarket.

"They also are essentially full in terms of occupancy, so limited space options exist,”​ he said.

The rents being quoted in some of Uptown's prime buildings are about twice the citywide average. Those rents are more than $20 per sf higher than the average charged downtown and in the Legacy-Frisco market.

Since 2011, office rents in Uptown's newest development have shot up by nearly 30 percent, according to JLL. So far, there's no sign of oversupply and a slowdown in rent growth​​. 

While a high-water mark for the city, rental rates in Uptown are still significantly​ below what first-class offices go for in coastal cities like New York, San Francisco, and Los Angeles.

Dallas Morning News
Dallas-Fort Worth-Arlington
http://bizbeatblog.dallasnews.com/2016/05/dallas-office-rents-jump-the-50-mark-for-the-first-time-as-companies-head-uptown.html/?_ga=1.30322171.590086643.1435329921Read more at {Source}

 Search NewsTalk Texas