North Texas' office demand rallies in first quarterNorth Texas' office demand rallies in first quarterhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=78362013-03-28T13:41:00Z2013-03-28T00:00:00Z

NORTH TEXAS - The office market's absorption — when a company takes occupancy of its space — has seen a year-over-year swing by more than 1.5 million sf, according to preliminary data compiled by Cushman & Wakefield of Texas Inc.

The demand from office tenants is stronger now than at any point since the recession in 2008.

As tenants occupy space in North Texas, there's less inventory on the market to lease, making the Uptown, Preston Center and Legacy-Frisco market as being an area that will continue to grow.

Developers have more than 1.5 million sf of space under construction in North Texas' suburbs, including the Legacy-West Plano-Frisco submarket.

In Dallas, the overall vacancy rate is 19.5 percent in first quarter 2013, which is lower year over year compared with 22.9 percent, according to the preliminary report. The Dallas area average rental rate is $20.10 per sf.

Read more at the Dallas Business Journal.

Dallas Business Journal
Dallas-Fort Worth-Arlington
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