As more companies push to get their workers back in the office, the Dallas-Fort Worth area is one of the top U.S. markets for pending office deals. The D-FW...
Office rents in Dallas' Uptown district have passed the $50-per-square-foot level — a record for North Texas.As more companies push to get their workers back in the office, the Dallas-Fort Worth area is one of the top U.S. markets for pending office deals.
The surge in North Texas businesses looking at office space follows a sharp decline in office leasing in the area after the COVID-19 pandemic hit. Currently only about 50% of office buildings in the D-FW area are back in business with employees returning, according to the latest estimates from Kastle Systems.
That’s what CBRE executive vice president Trey Smith is seeing in the D-FW area. “It has picked up significantly,” Smith said. “Some tenants let their leases expire and have gone month to month or made short-term extensions.Smith said some local office tenants are opting for subleased office space. The D-FW area has millions of square feet of empty sublease office space that companies are looking to fill with new leases.
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