In most major metros, construction of new office buildings has withered as office vacancy rates reach record-high levels and construction loans are scarce.
Dallas appears to be an anomaly: its office construction pipeline is really robust despite red warning lights that are flashing on the metro's vacancy rate and the overall availability of direct office space.
More than 5.2M SF of office space is under construction in Big D, making Dallas the national leader in building offices. Only four major markets are exceeding more than 4M SF in office construction, with Austin a close second at 5.1M SF, followed by Manhattan (4.9M) and Seattle (4M SF), according to CBRE.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
