DALLAS - The Dallas area office market has the “highest rent growth expectation in 16 years,” according to a new report from PricewaterhouseCoopers LLP.
The accounting firm forecasts that more than 5 million sf of new Dallas area office space will open in the next two years.
The second quarter real estate investor survey predicts that the city’s office market will have four years of continued expansion.
Office rents are up by more than 4 percent area wide this year. Additionally, the cost of office space is rising even faster in some business districts, including West Plano, Uptown and Preston Center.
Survey participants foresee rising property values of as much as 10 percent in the next 12 months.
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