New office space flies off DFW marketNew office space flies off DFW markethttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=2492015-07-30T11:18:00Z2015-07-29T00:00:00Z

DALLAS-FORT WORTH - More than half of the office space under construction in North Texas is already leased to tenants, according to a new report by commercial real estate firm CBRE.

The high percentage of preleasing in the office building market is further indication that developers are not overdoing it in the latest round of construction.

CBRE estimates that 7.3 million sf of offices are being built in the Dallas-Fort Worth area. About 40 percent of that construction is in the northern suburbs, including West Plano, Richardson and Frisco.

The office leasing in these new buildings is dominated by companies in the life sciences industry, manufacturing, financial services and legal business.

Along with the large single-tenant buildings under construction for companies including State Farm, Raytheon and FedEx Office, about a fourth of the speculative multitenant buildings under construction in Far North Dallas are also already leased.

Click to see CBRE’s DFW Office Marketview 2Q 2015 (PDF).

Also see DFW Market Research and DFW NewsTalk.

Dallas Morning News
Dallas-Fort Worth-Arlington
http://bizbeatblog.dallasnews.com/2015/07/more-than-half-of-north-texas-new-office-space-is-already-leased.html/Read more at {Source}

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