Oct 5, 2016
JLL: Dallas office activity still high 3Q 2016
DALLAS - Net absorption started the year slow, but has moved back above the historic norm with over half a million sf absorbed in third quarter 2016, according to JLL’s...
DALLAS – Net absorption started the year slow, but has moved back above the historic norm with over half a million sf absorbed in third quarter 2016, according to JLL’s Office Insight and Stats report.
Relatively low vacancy and new construction deliveries have been moving the average asking rate to new highs for the market. Year-over-year, direct asking rates increased for Class A and B space by 7.6 percent.
While the construction pipeline is not at record highs, it is above the long term average and above recent net absorption rates.
For the year-to-date, 3.3 million sf of new construction has been completed. In 4Q 2016 another 2 million sf is scheduled for completion.
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