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Amazing office absorption this year! Let’s take our breath for a moment and look a little closer…

  • Since 2004, office demand (net absorption) in Dallas has totaled over 25 million square feet. This works out to be an average annual pace of close to 1.8 million square feet.
  • In the last few years, we have seen several large corporate users establish a major presence here, either though build-to-suit consolidations or new regional / national headquarters.
  • Aside from Capital One’s newer campus, State Farm, Toyota, and JPMorgan Chase have been the drivers, adding 6.1 million square feet to our reported total net absorption over the last few years.
  • While corporate users have always moved to or expanded in Dallas, they are usually smaller companies.  This is the first time in many years that companies of this scale have driven our office demand to this extent.
  • Liberty Mutual will deliver later this year, which will add another 1.1 million square feet to 2017’s new watermark.
  • Excluding these “needle movers” Dallas’ longer-term average annual absorption is around 1.4 million square feet.
  • Importantly, since the end of the recession in 2011, Dallas has been averaging 2.1 million square feet annually.​

Source: JLL Research​

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