While results won’t be dramatic, an improving employment picture and a more positive outlook by private-sector employers will boost the North Texas commercial real estate market in 2011. According to the Dallas Business Journal, office leasing will increase next year due to the fact that many tenants’ leases are rolling. On top of that, many relocating corporations will choose Dallas-Fort Worth for their headquarters at an increased pace.
Occupancy and lease rate should see a modest increase in North Texas office areas in 2011. The most gain will occur in the Uptown areas of Dallas, Preston Center and Far North Dallas. 2011 should bring even more of an increase in sales activity than 2010 brought in the areas of office, industrial, apartment and retail buildings as financing for investors slowly becomes more available and interest rates remain low.
To read the full article from the Dallas Business Journal, click here.