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In 2016, the office pipeline in North Texas swelled by nearly one-third to top 8.3M SF, according to Q4 reports from PMRG. The pipeline hasn’t been this robust since 1999.
291k SF of office delivered in Q4 2016, most of which came from Billingsley’s 215k SF build-to-suit office for OneSource Virtual in Las Colinas. Baylor Health delivered some corporate-owned buildings in East Dallas, Allen and McKinney.
Nearly one-quarter of the pipeline — about 2M SF — will deliver in the first half of 2017. All of these deliveries will take place in West Plano, Las Colinas and the Uptown/Turtle Creek submarkets.
Though that 8.3M SF is only 44% pre-leased, developers aren't pausing their groundbreakings.
Van Trust Real Estate broke ground on 655k SF of office in Frisco Station (above) and Billingsley started a 225k SF build-to-suit for Signet Jewelers in Las Colinas.
