DALLAS—Dallas' office market has been one of the strongest inthe country due to its diversified economy and strong growth acrossall sectors. This level continued at the start of 2020 as vacancymoved down slightly, from 20.1 to 19.7%, according to the latestoffice report by JLL.
This activity was driven by solid first quarter absorption ofalmost 1.2 million square feet. For context, Dallas absorbed anaverage of 2.8 million square feet annually during this last cycle,excluding the largest corporate campuses that delivered, says thereport.
Its most popular suburban submarkets, Far North Dallas, LasColinas and US-75, drove first-quarter absorption, accounting for65% of demand. The downtown area, comprised of the CBD and Uptown,also contributed almost 250,000 square feet to the first quartertotals.
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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.
