Here Come Better Office Stats
While at CBRE's office, we also caught up with director of research Sara Rutledge (here on New Year’s Day at Enchanted Rock State Park with hubby Bill Loden and son Dylan). She tells us DFW’s annual job growth has dominoed, causing office-using sectors to expand as office vacancy shrinks. And that puts upward pressure on rents.
DFW has the strongest annual job growth among the nation’s large metro areas, leading to a robust demand and heavily pre-leased construction. That bodes well for continued improvement in the office market, too. (We can't all work in coffee shops.) The Q4 '13 preliminary office stats show an 18% vacancy rate in Dallas, compared to 19% in Q4 '12.