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Tech Leasing Activity Reaches New Highs

DALLAS—The metro is known for its diverse economy that is largely tied to national economic movement rather than one sector in particular, however, tech is continuing its influence along with insurance.

Park Central Park Central 3 & 4 is located at 12700-12712 Park Central Dr.

DALLAS—The metro is known for its diverse economy that is largely tied to national economic movement rather than one sector in particular. However, as an expanding tech market, it was technology that topped the industry list for large leases in 2016. Between 2015 and 2016, leasing activity among tech companies rose an astounding 333% and also claimed the top lease for 2016. Insurance, a key industry in DFW throughout the current cycle, declined in 2016, but mainly due to Liberty Mutual’s 900,000-square-foot lease overshadowing all others in 2015, according to CBRE research.

The suburbs continue to have more sizeable transactions due to higher availability for big blocks of space. Las Colinas and Far North Dallas claimed 42% and 25% of DFW’s top 50 transactions of 2016. The North Texas office sector remained a crucial component of the national market with 11% of all US 2016 office absorption attributed to the DFW market, GlobeSt.com learns.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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