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Ample pool of larger office tenants will influence Dallas’ urban core in the years ahead…

  • ​Class A and B office leasing activity in Dallas’ urban core has typically averaged around 4 million square feet annually over the last decade.  During the late 1990s tech boom, it ran almost double that pace.
  • DFW’s expanding economy over the last few years has influenced annual leasing activity, with the recent pace coming in at closer to 5 million square feet as tenants jockey for space in new buildings or optimize floor plans to meet their space needs.
  • With close to 2.5 million square feet of office space now under construction or soon to break ground in the Urban Core,  future lease-up is becoming a common conversation within the commercial real estate community.
  • Our analysis of lease expirations for larger, essentially full-floor, tenants illustrates that an ample number will have leases expiring between 2020 to 2023.  These tenants account for almost 6 million square feet of space.  
  • A few may choose to leave the Urban Core.  Many may select new buildings or renew / re-stack within their current buildings.  This level of potential activity suggests that leasing velocity will remain robust over the period ahead. 

Source: JLL Research

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