Top Commercial Real Estate News - September 29, 2006 - October 05, 2006
Thursday, October 5th, 2006Office Boom Continues in Dallas
The Dallas office market is about to receive the most space it’s seen in 20 years. Nine buildings are in various stages of construction, which, when finished, will add 3 million sf to a market already experiencing some of the nation’s highest vacancy rates. Developers are convinced businesses will respond to the new space, favoring the new space to the old. Rents are projected for more than $30 per sf in the new towers while rents in the area are currently about $23 per sf.
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