July 11, 2017
Huge demand for office space propelled the Dallas-Fort Worth area into the top spot in office leasing in Q2 2017, beating out Charlotte, Seattle and Raleigh/Durham. Net office leasing in North Texas totaled 1.4 million square feet, according to Cushman & Wakefield Inc.
C&W’s Kevin Thorpe indicated that job openings determine whether business expansion will remain healthy. It has done so in DFW, as the area also led the country in employment growth during May 2017. The region added 116,000 more jobs than in the same month in 2016, according to the U.S. Bureau of Labor Statistics.
“The biggest drivers that propel Dallas above other markets seem to be the diversity of our economy, and the quality of life that North Texas offers,” commented Cushman & Wakefield Managing Director Dan Harris. “Companies like that DFW offers different viable options, without compromising on location, community, education or amenities.”
Furthermore, North Texas was one of the top office construction markets in the first half of 2017, tallying more than six million square feet of construction. The region was beat out by New York City in total office building.
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