|Next to measuring how many cups brokers can fill with tears, predicting CRE recovery often falls to leasing volume. Well, it's up about 6% year-over-year. (We may be more like the tortoise than the hare when it comes to recovery, but we?d rather eat hossenfeffer than turtle soup any day.)|
JLL senior research analyst Steve Triolet tells us net absorption turned positive in mid-2010, remaining healthy for three consecutive quarters. The first signs of rents firming up are being seen in select submarkets (largely Class-A product). Forecasts from the Dallas Fed, Moody?s Economy.com, and Reis all peg the 2011 job growth in the 2.5% to 3% range, which should make Dallas one of the better markets across the country, Steve says. The best performing submarkets are starting to see landlords raise asking rates and offer fewer concessions, particularly in portions of Far North Dallas and Preston Center.