D-FW tops Texas in office leasing and construction

By Steve Brown and The Dallas Morning Newsinsight_real_estate_KPMG_Cathedral

The Dallas-Fort Worth area now has more office space in the construction pipeline than the state’s other largest markets — Houston and Austin  combined.

About 7.5 million square feet of new office space is being built in North Texas, compared with 4.2 million square feet in the Houston area and about 1.6 million square feet in Austin, according to a new report by commercial real estate firm CBRE.

While the D-FW area far outpaces the rest of the state in office building, the construction pace may be warranted.

Companies are currently shopping the D-FW market for more than 7 million square feet of offices, CBRE reports. And about 50 of those requirements are major leases of 25,000 square feet or more. Read More >