DALLAS-The office vacancy rate for the Dallas-Forth Worth area in 2013 fell to a little below 18%, the lowest level in more than a decade.
According to preliminary figures released by Cushman & Wakefield of Texas, expanding and relocating companies rented an additional 3.5 million square feet of office space in 2013. Net office leasing in the region was 15% higher than activity registered in 2012, according to the Dallas Morning News.
Most of the office leasing in 2013 was concentrated in three key areas: in Richardson's Telecom Corridor, Legacy Business Park and Frisco in Collin County and Las Colinas in Irving. A construction boom is going on in North Texas with approximately 5.4 million square feet of new office space under construction, which was slightly below the level of activity taking place just prior to the onset of the recession. See story in the Dallas Morning News.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
