{{titleBar.title}}

{{titleBar.tagline}}

 

 

PMRG: Dallas office market 2Q 2014PMRG: Dallas office market 2Q 2014https://www.recenter.tamu.edu/news/newstalk-texas/?Item=35812014-07-18T20:28:00Z2014-07-18T07:00:00Z

DALLAS-FORT WORTH - DFW’s office market recorded 460,495 sf of direct net absorption during second quarter 2014, bringing the trailing 12-month total to 3.2 million sf. PM Realty Group released the report.

As overall occupancy rates have reached an 11-year high, numerous speculative construction projects have kicked off across the Metroplex, which will provide an abundance of new, high-quality space options for tenants as the local economy continues to expand at a healthy pace.

The office construction pipeline has skyrocketed by 309 percent within the past year to over 5.4 million sf under construction, with roughly 70 percent of the new space already preleased.

Largest Submarkets Ranked by Total SF
Submarket Inventory
SF (Total)
Direct SF
Available
Occ. Under
Construction
Class A
Asking Rent
(per SF)
Class B
Asking Rent
(per SF)
Las Colinas 27,873,400 5,904,699 82.6% 782,009 $24.70 $19.43
Dallas CBD 27,430,142 8,731,406 72.6% 450,000 $22.49 $17.77
Quorum / Bent  Tree 18,944,792 3,643,738 82.9% 120,000 $24.82 $17.51
East LBJ        15,812,405 4,598,874 74.6% 0 $21.69 $17.05
Upper Tollway / West Plano 14,667,318 1,870,518 87.6% 746,816 $30.26 $24.36
Richardson 12,551,989 2,407,346 88.4% 1,500,000 $21.68 $17.49
Central Expy. 11,467,136 2,683,069 80.9% 149,510 $23.77 $18.96
Total* 218,295,796 45,844,093 81.9% 5,404,959 $24.32 $18.37

*Includes all DFW submarkets.

Source: PM Realty Group

Read more at PM Realty Group. For the full report and similar reports, see Office under DFW Market Data Sources.

Online news
Dallas-Fort Worth-Arlington
Office
http://www.pmrg.com/property-services/market-reports/Read more at {Source}

 Search NewsTalk Texas