This story was originally published on Bisnow, the newsroom global commercial real estate reads first. To receive daily news and ****** ysis, subscribe to Bisnow's free suite of newsletters.
Dallas-Fort Worth's growing financial hub, commonly referred to as Y'all Street, has turned Uptown Dallas into a premier office market in the region, commanding North Texas' highest rents and accounting for nearly 94% of its development pipeline.
Rents for the newest trophy office ****** e in Uptown have grown nearly 31% over the last two years as companies seek the highest-quality product available in the submarket that has become the heart of Dallas-Fort Worth's growing financial sector. That increase is almost double the just over 16% rent growth recorded across the metro in that same time frame, according to JLL data.
The 1.3M SF of top-tier office ****** e delivered in Uptown over the last two years also accounts for nearly 31% of the metro's new inventory during that time. Continued demand for trophy office ****** e near Y'all Street companies and the premium rents they fetch have developers scrambling to build new projects in Uptown, according to JLL Dallas Director of Research Micah Rabalais.
"Is it going to be what it was 10 years ago from a construction volume standpoint, where we might have had, in Uptown alone, 3M SF or 4M SF underway at certain points in time? Probably not, but I do think we maintain this pace," Rabalais said of his forecast of another 1.3M SF that could be delivered by the middle of 2028.
#dallas #rents #fort
Dallas-Fort Worth's growing financial hub, commonly referred to as Y'all Street, has turned Uptown Dallas into a premier office market in the region, commanding North Texas' highest rents and accounting for nearly 94% of its development pipeline.
Rents for the newest trophy office ****** e in Uptown have grown nearly 31% over the last two years as companies seek the highest-quality product available in the submarket that has become the heart of Dallas-Fort Worth's growing financial sector. That increase is almost double the just over 16% rent growth recorded across the metro in that same time frame, according to JLL data.
The 1.3M SF of top-tier office ****** e delivered in Uptown over the last two years also accounts for nearly 31% of the metro's new inventory during that time. Continued demand for trophy office ****** e near Y'all Street companies and the premium rents they fetch have developers scrambling to build new projects in Uptown, according to JLL Dallas Director of Research Micah Rabalais.
"Is it going to be what it was 10 years ago from a construction volume standpoint, where we might have had, in Uptown alone, 3M SF or 4M SF underway at certain points in time? Probably not, but I do think we maintain this pace," Rabalais said of his forecast of another 1.3M SF that could be delivered by the middle of 2028.
#dallas #rents #fort
7 days ago
