"Dallas over history is the last to move into a recession andthe first to come out," Bob Edge, vice chairman of Cushman &Wakefield of Texas Inc.'s Dallas office, tells GlobeSt.com. That'sthe good news. The hard-hitting news is leasing is at its slowestpace since 1992 and "the projected balance of the year is prettybleak," he says.

It's now a tenant's market and time to employ the 4 R's ofleasing: renegotiate, restructure, renew or relocate. That, saysEdge, will comprise the bulk of the activity for the rest of thisyear. "We will see some activity," he says, "and that will help.Smart tenants will be out there taking advantage of it. It's agreat time to do some deals." Credit-strong tenants are being wooedwith "plug-n-play" perks, high TIs, free rent and free parking bybuilding owners and sublessors alike.

The region's 6 1/2-million sf of sublease space has gained adecided edge in the market, says Edge, a founder of C&W'sDallas office. Though problematic to hustle, the sublease officespace now on the market "is a threat to direct vacancy." That's afirst in Edge's 25-year career.