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When art meets real estate research… A visualization of “stale” office space in Dallas

  • ​This cluster of dots represents overall vacant office space in Dallas, color-coded by the length of time it has been available on the market.
  • This portrayal highlights the issue that that a large share of our Class A & B office space has been available for years, in some cases, resulting in essentially “stale” or functionally obsolete space.
  • Market-wide, more than half of our vacant Class A & B space has been available for longer than 2 years, with almost 40 percent, or 12.8 million square feet, vacant for 3 years or more.
  • While this clearly affects older assets, this space is often concentrated in older submarkets and represents a leasing challenge that impacts the broader market fundamentals of occupancy and rents.
  • Next week we will look at the individual Dallas submarkets to identify where this issue is most critical and where redevelopment and reuse opportunities may exist
Source: JLL Research

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