Dallas Developers Could be Ahead of the Game by Breaking Ground Now
Developers breaking ground in Dallas now, could be beating competitors to the punch. Dallas office spaces are in high demand however current construction projects are dwindling. Office buildings fresh on the market are already mostly leased and ones in the works show promise.
Uptown, Dallas is an up and coming area that attracts growing companies. Developers would benefit starting construction here.Dallas Business Journal states that, “The Uptown office buildings that have delivered this cycle, which include Frost Tower, McKinney & Olive, 1920 McKinney and Hall Arts, have leased up while increasing their base rental rates 7 to 10 percent since they began construction, according to Beets’ research.”
Companies are moving to Uptown and downtown Dallas for reasons being:
- New space
- High-quality office
- Efficient floor plates
- Windows floor-to-ceiling
While developers striking now would great idea, the theory only works with the economy on their side. Even if for some reason the economy takes a turn, as long as the buildings have pre-leasing agreements developers still should be in an alright position.
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