The JLL Dallas Research team delivers quarterly reports on the latest activity in the office market. Finding out vacancy rates, absorption and more can now be done in an interactive tool available to the left.
Click the graphic and navigate through the application. You can use the arrows on the left or scroll down, as well as select key words and areas within the map.
As of Q1 2016, rate pressure remains in effect across all submarkets with the vacancy rate below the historic norm at 19.1 percent. In some submarkets, tenants are now even reporting renewal rates 25 to 40 percent higher than their existing leases. We expect new Class A construction to put upward pressure on rate prices going forward as space is delivered.
Throughout the rest of the year, 2.5 million square feet of vacant spec construction will deliver market wide. While we see potential signs of greater net absorption coming—from recently signed deals—the high volume of spec construction across Dallas will likely cause vacancy rates to rise by the end 2016.
To read more articles from the JLL Dallas Research team, please click here.