Sweet on Downtown Dallas’ Class A office space

DALLAS-FORT WORTH – North Texas companies are leasing Class A office space, leaving the market tight for quality office locations, according to Walter Bialas, JLL’s Dallas office vice president.

Some of the in-demand submarkets where Class A office space is hard to find in Dallas-Fort Worth include the area along the Dallas North Tollway in Plano and Frisco, Uptown, Preston Center, and downtown Dallas.

Through third quarter 2014, companies signed for over 500,000 sf of office space in downtown Dallas. Overall, Dallas-Fort Worth companies leased 1.75 million sf of new office space in the region, according to JLL. Oct. 6, JLL’s website is not working today.

The boost in leasing activity has caused landlords to increase asking rents for well-located properties.

"At this time next year, I think we’ll see a 5 percent to 6 percent growth in rent," said Bialas. "I don’t think this average increase will stop anytime in the next eight quarters."