A rise in space available for sublease and a large development pipeline are curbing the Dallas office market\u2019s enthusiasm.\u201cWe\u2019re not seeing gloom and doom. Dallas\u2019 economy is holding its own,\u201d said Dale Ray, managing director for Jones Lang LaSalle Inc.\u2019s Dallas office. Still, he noticed an uptick in sublease space from the middle of May to the middle of June. Cushman & Wakefield Inc. confirmed his observation in a midyear report, recording an increase of 25 percent from the second quarter of 2007 to the second quarter of 2008. Executive director Susan Gwin attributed the jump to a rise in hoteling stations and collaborative work areas in local offices.Additionally, the Metroplex\u2019s office pipeline\u2014the second quarter had 5.6 million square feet, 68 percent of that speculative, under construction\u2014always makes some worry, though Gwin is not one of them. \u201cThere seems to be some forethought behind these new developments,\u201d she said. \u201cLenders are keeping a check on things.\u201dIndeed, the market has received some new buildings well, Ray pointed out. Tenants have leased 70 percent of Rosewood Property Co.\u2019s 19-story, 405,000-square-foot Rosewood Court, which opened in late July. He also reported that the office component of Billingsley Co.\u2019s One Arts Plaza in the Arts District, which also includes residential condominiums, is fully leased.Ray also noted that the new projects have even spurred landlords to refurbish existing buildings, improving the overall quality of Dallas office space.For a look at transit-oriented development in Dallas, visit Dallas August print story.<\/p>\n","protected":false},"excerpt":{"rendered":"
A rise in space available for sublease and a large development pipeline are curbing the Dallas office market\u2019s enthusiasm.\u201cWe\u2019re not seeing gloom and doom. Dallas\u2019 economy is holding its own,\u201d said Dale Ray, managing director for Jones Lang LaSalle Inc.\u2019s Dallas office. Still, he noticed an uptick in sublease space from the middle of May…<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1003836342","post","type-post","status-publish","format-standard","hentry","category-regions"],"acf":[],"yoast_head":"\n