DFW office construction at highest level since 1980sDFW office construction at highest level since 1980shttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=13642015-04-29T14:28:00Z2015-04-01T00:00:00Z

DALLAS-FORT WORTH - North Texas office construction has soared to the highest level since the 1980s. More than 8.8 million sf of office space is under construction in DFW — about 50 percent more than a year ago.

The boom has grown to 28 projects — most of them in Dallas’ northern suburbs and the Uptown area, according to a new report by Cushman & Wakefield Inc.

About a third of the projects are for specific corporations, and almost 60 percent of the office space being built is already rented.

Almost half of the office space under construction is in the West Plano and Frisco market, where new corporate campuses are under construction for companies including Toyota Motor, FedEx Office and the Dallas Cowboys.

Developers are also putting up several multitenant office projects in those areas.

Construction also remains high in the Telecom Corridor, where State Farm Insurance and Raytheon Corp. have office developments underway.

Even with all the construction, office vacancy rates in North Texas continue to fall — to less than 17 percent in first quarter 2015.

Dallas Morning News
Dallas-Fort Worth-Arlington
http://www.dallasnews.com/business/commercial-real-estate/headlines/20150330-d-fw-office-construction-up-by-50-percent-from-early-2014.eceRead more at {Source}

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