|Only New York City has more office space under construction then DF-W|
Thursday, July 21, 2016
D-FW behind only one city in office building and leasing in recent study
Dallas-Fort Worth was one of the top markets in the country for office leasing in the second quarter.
Only New York City saw more office demand in the just completed quarter, according to a new report by Cushman & Wakefield Inc.
Expanding and relocating business tenants leased 2,934,487 square feet of D-FW office space in the second quarter.
New York City's Midtown market had 3,317,039 square feet of leasing.
Los Angeles was third in the country with 2,594,662 square feet of net leasing, according to the commercial real estate firm's midyear office report.
The D-FW area is also second in the country for building with 7,902,772 square feet of office space under construction at midyear.
New York's Midtown area was the top construction market with 9,308,683 of office space being built.
"Continuing healthy growth in office-using employment boosted the absorption of office space across the U.S. to approximately 14.7 million square feet in second quarter 2016, an increase from 11.8 million square feet in the first quarter," Cushman & Wakefield said in the report.
In North Texas, major office deals signed by Signet Jewelers, Molina Healthcare, Atos SE, CompuCom Systems, First American Title Insurance Co and Compass Professional Health Services filled big blocks of space in the most recent quarter.
Dallas-Fort Worth is on track for the best office-leasing year in almost two decades.
Written by Steve Brown/Dallas Morning News