February 15, 2017
Texas is a huge state, spanning approximately 270,000 square miles. As such, in 2016, different industry sectors drove office demand in the different metros, according to research from CBRE. For example, while the Dallas-Fort Worth region can trace lease transactions to technology, Houston’s office sector saw legal pick up the space slack from the energy sector decline.
Technology also powered the Austin office market, with many of 2016’s top leases coming from international tech companies taking space in newly constructed office buildings.
Meanwhile, back to DFW, the North Texas office sector was “a crucial component of the national market, with 11% of all U.S. 2016 office absorption attributed to the DFW market,” the research indicated.
For comments, questions or concerns, please contact Amy Sorter