DFW office leasing higher 3Q 2013: C&W

DALLAS-FORT WORTH – North Texas office demand continued to grow in third quarter 2013.

Through the first nine months of 2013, net office leasing in the DFW area is about 15 percent ahead of where it was a year earlier, according to preliminary numbers from Cushman & Wakefield of Texas Inc.

Expanding and relocating office tenants have increased occupancy in the DFW area by 2.3 million sf so far in 2013. The biggest increases in net leasing have been in the Telecom Corridor along N. Central Expy., in West Plano-Frisco and in Las Colinas.

Overall office vacancy in DFW is now at just over 18 percent — one of the lowest levels of empty space in almost a decade.

Currently there is about 5.4 million sf of office space being built in the area. That’s up from just over 1 million sf a year ago.