Thursday, January 14, 2016

D-FW office leasing, rents near record high in 2015

North Texas’ office market just finished its best year in more than two decades.
Expanding and relocating businesses leased more than 5 million square feet of Dallas-Fort Worth office space, according to preliminary numbers from commercial real estate firm Cushman & Wakefield.
Net office leasing was up about 10 percent from last year and had the highest volume since the 1980s.
“It was an extraordinary year, driven by strong employment,” said Mike Wyatt, Cushman & Wakefield’s executive vice president. “We are creating jobs, and that in turn is creating the demand for office space.”
The biggest office leasing totals were in the Telecom Corridor along North Central Expressway, in Irving and in West Plano and Frisco.
Link to full article here
By Steve Brown of The Dallas Morning News