Dallas Office Space Demand
Corporate relocations and expansions are a trend right now and Dallas-Fort Worth ranks among the top 10 metros nationwide with a strong demand for pre-leasing office space!
According to a 2018 report by CBRE Group, about 1.1 million square feet of roughly 3.75 million square feet of local office space expected to deliver between 2018 and 2022 has been pre-leased. That represents a pre-lease rate of 41 percent. These figures show the region not only has a robust construction pipeline, but tenants are quickly snapping up space as it becomes available.
Demand for Dallas-Fort Worth office space stems from the ease of securing real estate in the area.
DFW and Frisco have recently been a hotspot for corporate relocations and expansions because of the supply of Class A office space allowing companies to discretely negotiate terms when moving in.
Austin, the other Texas city included in the report, has a pre-leasing rate of 53 percent for about 3 million square feet.
And Philadelphia, which has the highest rate in CBRE’s study, has a pre-leasing rate of 84 percent for roughly 3 million square feet.
With low unemployment and a demand for talent, companies are moving and expanding offices that offer amenities they think will be attractive to existing workers and new hires.
Owners have started adding amenities like guest WiFi, fitness centers, and lounges so that employees can stay around the building longer and be more efficient throughout the day.
