| PMRG: Dallas office market 2Q 2014 | PMRG: Dallas office market 2Q 2014 | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=3581 | 2014-07-18T20:28:00Z | 2014-07-18T07:00:00Z |
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.
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