Everything you wanted to know about the Urban Core, Uptown and Downtown Dallas, Texas & Dallas Ft. Worth Area Real Estate - Its growth, prosperity, setbacks and unprecedented revitalization is told here...Randall Turner of Harvard Companies, Inc 214-373-0007, 3500 Oak Lawn Avenue, Suite 325, Dallas, Texas 75219
Monday, September 29, 2014
Downtown Dallas office leasing has grown by more than 550,000 square feet so far this year.(Steve Brown)
Downtown Dallas has seen a big jump in office leasing this year.
Expanding and relocating tenants leased about 558,000 square feet of office space downtown through the third quarter of 2014, according to preliminary data from JLL.And a new report by commercial real estate firm JLL says that the central business district leads the area in net office occupancy gains.
That’s more than five times the total downtown net leasing in all of 2013 and the highest office space absorption number downtown in years.
Far North Dallas – which includes the busy Dallas North Tollway corridor – was second on JLL’s top office market list, followed by Las Colinas and North Central Expressway.
So far in 2014, net office leasing in the Dallas area totals 1.75 million square feet, according to JLL.
Overall office vacancies in the Dallas area have dropped to 19.5 percent – the lowest level in more than a decade.
Downtown Dallas’ office market has been boosted this year by major leases by companies including Santander Consumer USA, Active Network and Omnitracs.