Recently, a map had been circulating online that noted the average salaries of millennials in each state. Because the state-to-state differences were pretty minor, we decided to investigate further and look into what this really meant to working millennials in major metro areas.
To start, we pulled incomes for working millennials (ages 25-34 years) in the major metro areas in the US. The initial results showed the obvious –… Read More
While office absorption has slowed from its frenzied pace in 2014 and 2015, it is still running well above our long-term annual average of around 1.5 million square feet. At the start of 2016, we took a shot and estimated that we would be around a 2 million square feet this year. With 1.5 million square feet of Class A and B in the books through 3Q, that still… Read More
The chart below highlights the current level of large Class A blocks of office space available by submarket. We consistently track this metric, and it has not moved appreciably in the last few quarters. That is not to say demand has been lacking. In fact, most of the recent absorption has been taking place in the newest developments.
The issue here is that a good portion of the space highlighted… Read More
It’s hard to miss the ongoing media attention about DFW’s apartment development pipeline. We decide to examine the sector to get a better sense of where the market stands in terms of recent deliveries and new product positioned to come on line.
We recognize that actual delivery dates are difficult to benchmark perfectly across so many properties. Even with that, as we tally-up units completed… Read More
Several of our team, across brokerage, labor analytics, GIS, and research are now evaluating the near- and longer- term impacts of the growth coming to Legacy.
While this work is still in process, the chart below looks at greater Legacy and benchmarks growth for office, retail, and multifamily. Based on our analysis, we can quantify that the new development will… Read More
The last few quarters, our region’s industrial market has been on a building boom. With 23 million square feet now under construction, we are well above any average. The obvious warning here is that supply and demand must remain in balance – and record construction must be matched with record absorption.
When I arrived here three-and-a-half years ago, Klyde Warren Park just opened. That was a game changer that we all recognized. Our urban core has continued to evolve as occupancy has increased in many buildings and rents are now pushing the $50 per square foot level. Our Skyline buildings comprise a variety of assets, from large skyscrapers built in the prosperous 1970s… Read More
As a quick review of our first and second installments on Dallas’ office market development, what we have concluded is that the current cycle is very different than the last two – and that is going back 20 years.
Today, our economy has vastly different drivers shaping our market. While our last cycle is instructive, it was not typical due to the much… Read More