JLL: Dallas office vacancy reaches 'record low'JLL: Dallas office vacancy reaches 'record low'https://www.recenter.tamu.edu/news/newstalk-texas/?Item=3882015-07-14T10:15:00Z2015-07-14T00:00:00Z

DALLAS-FORT WORTH - Office space in DFW has reached a 15-year low as lease rates continue to climb, driven by the region's booming economy that brought in roughly 110,500 jobs in the past 12 months, according to the latest JLL data for second quarter 2015.

The Dallas-Fort Worth market's Class A office rents are rising 5.5 percent in the region.

Overall, Dallas area office space has hit an 18.7 percent vacancy rate — a low that has not been seen since 2000 — that drops another 2 points to 16.7 percent when you consider Class A property in the region alone.

The low vacancy rate, especially in desired submarkets such as Preston Center, Uptown and Far North Dallas along the Dallas North Tollway in Plano and Frisco, has caused a jump in office rents year-over-year, with a 5.5 percent increase in Class A rents and a 5 percent increase in Class A and B rents.

Class A and B Totals Dallas Office Statistics 2Q 2015
  Inventory Total Net
CBD 26,304,414 208,683 22.5% $22.73 450,000
Suburbs 123,248,796 724,984 18.5% $22.76 7,210,917
Dallas Total 159,866,162 1,024,752 18.7% $23.45 8,508,652

Read more at the Dallas Business Journal.

For the full report click JLL Dallas Office Insight to Stats 2Q 2015 which can also be found under Dallas-Fort Worth Market Research.

Dallas Business Journal
Dallas-Fort Worth-Arlington
http://www.bizjournals.com/dallas/news/2015/07/13/jll-report-dfw-office-vacancy-reaches-15-year-low.htmlRead more at {Source}

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