Commercial Property : Dallas Office Space For Lease

Sunday, 18 November 2012

Dallas Office Space For Lease

Contrary to popular belief, the DFW region is not necessarily dominated by the Oil & Gas industry and has a diverse economy closely resembling that of the United States. Dallas, more recently, has been dubbed the "Silicon Prairie" to highlight the significant hi-technology activity in the area. There is a rich high-tech manufacturing base; a large finance, insurance, and real estate services sector; a continually expanding manufacturing, bio-tech, and information technology sector; a growing transportation, warehousing, and logistics operations; and consistently ranks in the MSA top ten exports market and investment market. These factors contribute to making the Dallas-Fort Worth Commercial Real Estate sector among the most stable in the United States. In fact, the Dallas area vacancy rate finished the 2nd quarter of 2011 down 26 basis points, currently at 20.7%. The average lease rate finished down 3.4% to $17.55 per square foot.