Metroplex Office Leasing Continues Upward Trend
As businesses grow, office occupancy across DFW has grown about 50% in 2015. A Cushman & Wakefield report shows net office leasing of 4M SF through the first three quarters, up from 2.7M SF at this time last year.
The demand is also triggering increases in rental rates with an almost 6% increase from Q3 last year. DFW is adding more office space, too, with almost 7M SF under construction with almost half of that pre-leased.
It’s no surprise where the majority of the office leasing is occurring either: Richardson's Telecom Corridor (think CityLine, pictured), Las Colinas, West Plano (Legacy West, for one) and Frisco (and it’s $5B mile). [DMN]