Office Space News
Dallas Office Space Market Still Recovering
Published June 29th, 2010 by Jennifer LeClaire
Dallas is leasing plenty of office space these days, but not enough to drive a positive occupancy rate for the first half of the year.
According to Cushman & Wakefield of Texas, office occupancy rates in the Dallas-Forth Worth area has improved since last year—the market has absorbed about 200,000 square feet of office space—but is still seeing a net decline. Rents are down in the overall market, and there is less new construction of office buildings.
Some areas of Dallas are stronger than others. In the North Central Expressway area, for example, brokers leased more than 374,000 square feet of office space. West Plano and Frisco were also winners, leasing about 227,000 square feet of office space in the first half of the year. But Downtown Dallas vacancies rose, along with Irving’s Las Colinas market and the area surrounding the LBJ Freeway, according to Cushman & Wakefield of Texas.
Of course, Cushman & Wakefield didn’t break it out into traditional office space and serviced office space. But we know that the executive suites industry is active in Texas, especially in larger cities like Dallas, Fort Worth, Houston, San Antonio and Austin.
Serviced Office Space in Dallas
Regus, for example, has business centers in all of those Texas cities, along with Addison, Allen, Frisco, Irving, Pearland, Plano, Richardson, Round Rock and The Woodlands. Davinci Suites. Other competitors in the Texas market include:
- Meridian Business Centers
- Corporate Office Centers
- ABT Executive Suites
- Dallas Executive Office Suites
- Premier Business Centers
- HQ
- Abby Office Center
- Providence Towers Executive Suites
- and the list goes on…
When Will Dallas Market Rebound?
One of the largest competitors on the serviced office scene in Dallas-Fort Worth is ABT Executive Suites. I’ve written about them before. This company has four locations in Dallas, two in Addison, two in Texas, two in Irving an Arlington.
No matter what brand you choose, if you are looking for an alternative to traditional office space in Texas, you can find plenty of reputable serviced office facilities to choose from. Most executive suites operators in major Texas cities also offer virtual office space for companies that are expanding or just need to cut costs to a bare minimum without giving up a professional image.
If you’re in Texas, let us know which serviced office facility you use.
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Bill Brookshire June 29th, 2010 at 5:03 am
That’s a good look at the market for office space in Dallas. It’s interesting to see how some pockets are growing again while other pockets are still in decline. I would think Downtown Dallas office space would be a prime target. But it’s probably more expensive. It seems like the Dallas suburbs are performing stronger. Maybe that’s why Reugs is pushing so hard on its suburb strategy.
Elizabeth Sanchez June 29th, 2010 at 9:00 am
It looks like Dallas has all the usual serviced office space suspects. Regus is big there, PBC is there, HQ and Abbey. I bet there’s a lot of single-facility operators across Fort Worth, Plano and elsewhere also. I think an industry report on vacancies in the serviced office space industry would be really telling. It’s too bad they don’t break it down that way.