DALLAS - The commercial real estate investment sales season is expected to begin in earnest in the next few weeks. One area that is looking hot: the office corridor along LBJ Fwy.
The vacancy rate has reached 28 percent, 8 percentage points higher than the North Texas average and the highest rate of any submarket in the region, according to latest research by Jones Lang LaSalle.
Real estate sources say rental prices have likely reached bottom, with the average lease price at $17.38 per sf, and some distressed buildings trading as low as $30 per sf.
It will be another two years before the LBJ Express project — a $2.7 billion, 17-mile expansion — is finished.
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