Midway through the year, the North Texas office market is looking healthier than it has in years.
According to research provided by Savills USA, leasing activity is up nearly 13 percent compared with the first half of last year—an increase of more than 900,000 square feet. In congruence, availability has fallen from 28.1 percent to 26 percent, and landlords continue to push rents higher, averaging $34.44 per square foot through Q2 this year compared to $32.89 last year.
Another telling sign: 2.5 million square feet of sublease space has disappeared from the market over the past year, an indication that companies are shedding fewer offices and putting excess space back to work…