Monday, May 06, 2013

Office demand differs from downtown to suburbia

Even though the real estate market in North Texas’ suburbs is red hot, office buildings in downtown Dallas are simply seeing red.
At least five Class A office developments are in various stages of development in Richardson, Allen, Plano and Frisco, as cities and developers try to woo corporate tenants shopping for space.
Corporate offices boost a city’s tax roll, but the residential and commercial development that follow raise the stakes.
“There’s pent-up demand, and absorption has been strong,” said David Craig, who is the master developer of Craig Ranch in McKinney. “There’s not much square footage in the marketplace ...

Staff Writer-Dallas Business Journal