If we compare The Dallas-F. Worth with the Houston and Austin – one other biggest state’s markets – we will see that The Dallas-F. Worth has more office spaces.
Only about 7.5 million of square feet new office spaces are constructing now in North Texas. In area of Houston – about 4.2 million of square feet, and in Austin only about 1.6 million. And all this facts we obtain thanks to the report of real estate firm – CBRE.
The construction we are talking about may be warranted. But, of course, only if the D-FW area will outpace the largest part of the state in the construction of buildings.
In this moment companies are shopping more than 7 or 8 million of square feet, and only for the construction of office buildings. And about 50 or 55 of this requirements have major leases about 25,000 square feet.
“Talking about the square footage, we need to remember the dominant industries, that includes financial services and, obviously, telecommunications, and also several energy companies, that are thinking about relocation,” – said analysts of CBRE.
Largest number of CBRE are talking: they are looking for office spaces (D-FW), and 25 are located in the sector of financial services.
The D-FW market of office spaces now is named one of the most biggest Texas employment and office companies.
“Within the signature of Texas, the inventory cycles are so different in the terms of the rent patterns and demand. Also, of course, they have diverse and big set of influences,” said us in his study Robert K. the director of CBRE’s Texas-O. (department of analysis and research). “So, Austin’s technology and Houston’s oil are different industry fueling for tenant demand.”
“On the other hand,” he adds “the D-FW is much more diversified, and, obviously, follows the U.S. trends of corporate fiscal performance.”
“D-FW is the only Texas market for obtain the opportunity to watch the real demand for office spaces while the recession continues,” said reporter of CBRE’s Texas Triangle. “Thanks the falling of oil prices, Houston is pushed an expansion cycle, Dallas starts to change and to work how corporate relocations city, likewise the companies of Liberty Mutual, Toyota, Jamba Juice and Sunoco.”
The positive net rent of offices has seen for D-FW all 24 months, and this result broke a record of 2015 (with almost 5.2 million of square feet – we are talking about the new demand).
Now, 222 million of square feet of the office spaces are located in the North Texas – much more that has any other large market in Texas.
In the past year, Houston’s office of construction and the leasing market was stalled because of cutbacks and layoffs in the city’s energy sector.
“Almost 1 million of the square feet of office spaces was leased to the companies that only in this year were started to thinks about the bankruptcy protection,” finally said CBRE.