At midyear net office leasing in the Dallas-Fort Worth area totaled more than 2 million square feet, topping pre-pandemic activity.
“We have been surprised at how quickly pent-up demand is leasing up new buildings and other high-quality properties,” said Transwestern research manager Andrew Matheny. “Companies that delayed decisions in early 2020 are returning to the market.With the pickup in office leasing, rents are on the rise.
“Average effective rent reached $33.93, or 9.1% above the pre-pandemic average,” Transwestern analysts report. Construction currently totals more than 7 million square feet. Most of the new offices are being built in the Uptown Dallas area , along the tollway in West Plano and in the Las Colinas area .
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