{"id":1004576763,"date":"2022-04-28T20:02:05","date_gmt":"2022-04-29T04:02:05","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004576763"},"modified":"2022-12-08T02:47:39","modified_gmt":"2022-12-08T10:47:39","slug":"office-sector-makes-headway-in-texas","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/","title":{"rendered":"Office Sector Makes Headway in Texas"},"content":{"rendered":"<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/april.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004576764\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/april\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/april.png\" data-orig-size=\"916,710\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"april\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/april.png?w=916\" class=\"alignright wp-image-1004576764 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/april.png?w=300\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/april.png 916w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/april.png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/april.png?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>New office starts across the nation amounted to a little more than 63 million square feet in 2021, a significant decrease from the 86.4 million square feet recorded in 2019, but a slight bounce back from the 58.4 million square feet in 2020. According to the latest CommercialEdge office report, Austin (5.3 million square feet) and Dallas (4.5 million) recorded most office groundbreakings <a href=\"https:\/\/www.commercialsearch.com\/news\/behind-hines-1st-austin-office-project-in-40-years\/\">last year<\/a>, followed by life sciences-centric markets: The Bay Area (3.8 million square feet of starts) and San Francisco (3.1 million) led the way in this sense, despite an accelerated rate of domestic and business out-migration.<\/p>\n<hr \/>\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/the-pandemic-related-acceleration-of-sun-belt-office-markets\/\">The Sun Belt&#8217;s Surging Office Market\u00a0<\/a><\/p>\n<hr \/>\n<p>Some 144.7 million square feet of office space was under construction across the nation at the end of March, with half of the active pipeline located in urban submarkets. With more than 10 million square feet of office space underway, <a href=\"https:\/\/www.commercialsearch.com\/news\/austins-booming-office-pipeline-inflates\/\">Austin ranked first<\/a> in terms of under construction pipeline. Meanwhile, construction activity in other markets that had recorded significant pre-pandemic gains has started to cool. Denver speaks to this trend, adding 16.1 million square feet of new office stock\u2014accounting for 8.5 percent of the market\u2019s inventory\u2014between 2015 and 2021. However, its current pipeline includes only 1.3 million square feet and an additional 4.4 million square feet in the planning stages.<\/p>\n<p>National average full-service equivalent listing rates averaged $38.65 per square foot at the end of March, down 260 basis points year-over-year but 3 cents more than in February. The national office vacancy rate clocked in at 15.9 percent in March, 30 basis points higher on a year-over-year basis and 20 basis points up from the previous month. Gateway markets saw the highest office vacancies since the start of the pandemic, with San Francisco recording a 380-basis-point increase year-over-year.<\/p>\n<p>The office-using sector added 134,000 new jobs in March, up 4.9 percent year-over-year. Office-using employment continued its uneven trajectory: Of the 50 top markets covered by CommercialEdge, 17 markets had fewer office-using employees than in February 2020. Meanwhile, two Texas markets led the way in office-using employment recovery: Dallas had 104,000 more workers than it did before the pandemic\u2014a 9.7 percent increase\u2014followed by Austin, with 56,000 more office jobs, accounting for a 17.6 percent increase.<\/p>\n<p>Read the full CommercialEdge <a href=\"https:\/\/www.commercialedge.com\/blog\/national-office-report\/\">office report<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Austin and Dallas led the way in construction starts and office-using employment growth, the latest CommercialEdge office report shows.<\/p>\n","protected":false},"author":741,"featured_media":1004576764,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22251,23891,21742,21747,41267],"tags":[50674],"class_list":["post-1004576763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-focus","category-national","category-latest","category-office","category-yardimatrix-reports","tag-commercialedge"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Office Sector Makes Headway in Texas<\/title>\n<meta name=\"description\" content=\"Austin and Dallas were top performers in terms of new construction starts and office-using employment growth, the latest CommercialEdge office report suggests.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Office Sector Makes Headway in Texas\" \/>\n<meta property=\"og:description\" content=\"Austin and Dallas were top performers in terms of new construction starts and office-using employment growth, the latest CommercialEdge office report suggests.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-29T04:02:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T10:47:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/april.png\" \/>\n\t<meta property=\"og:image:width\" content=\"916\" \/>\n\t<meta property=\"og:image:height\" content=\"710\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Corina Stef\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/\",\"name\":\"Office Sector Makes Headway in Texas\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/april.png\",\"datePublished\":\"2022-04-29T04:02:05+00:00\",\"dateModified\":\"2022-12-08T10:47:39+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/73262f140f4b0a11baea2dd6f27beadf\"},\"description\":\"Austin and Dallas were top performers in terms of new construction starts and office-using employment growth, the latest CommercialEdge office report suggests.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/april.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/april.png\",\"width\":916,\"height\":710},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Office Sector Makes Headway in Texas\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/73262f140f4b0a11baea2dd6f27beadf\",\"name\":\"Corina Stef\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Corina-Stef.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Corina-Stef.jpg?w=96\",\"caption\":\"Corina Stef\"},\"description\":\"Corina Stef started her tenure as a music journalist a decade ago and has been occupying a full-time real estate editor and blogger position since 2017. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who focuses on commercial real estate trends and in-depth stories.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/corina-stef\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Office Sector Makes Headway in Texas","description":"Austin and Dallas were top performers in terms of new construction starts and office-using employment growth, the latest CommercialEdge office report suggests.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/","og_locale":"en_US","og_type":"article","og_title":"Office Sector Makes Headway in Texas","og_description":"Austin and Dallas were top performers in terms of new construction starts and office-using employment growth, the latest CommercialEdge office report suggests.","og_url":"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2022-04-29T04:02:05+00:00","article_modified_time":"2022-12-08T10:47:39+00:00","og_image":[{"width":916,"height":710,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/april.png","type":"image\/png"}],"author":"Corina Stef","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/","url":"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/","name":"Office Sector Makes Headway in Texas","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/april.png","datePublished":"2022-04-29T04:02:05+00:00","dateModified":"2022-12-08T10:47:39+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/73262f140f4b0a11baea2dd6f27beadf"},"description":"Austin and Dallas were top performers in terms of new construction starts and office-using employment growth, the latest CommercialEdge office report suggests.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/april.png","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/april.png","width":916,"height":710},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/office-sector-makes-headway-in-texas\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Office Sector Makes Headway in Texas"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/73262f140f4b0a11baea2dd6f27beadf","name":"Corina Stef","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Corina-Stef.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Corina-Stef.jpg?w=96","caption":"Corina Stef"},"description":"Corina Stef started her tenure as a music journalist a decade ago and has been occupying a full-time real estate editor and blogger position since 2017. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who focuses on commercial real estate trends and in-depth stories.","url":"https:\/\/www.commercialsearch.com\/news\/author\/corina-stef\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/april.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004576763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/741"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004576763"}],"version-history":[{"count":8,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004576763\/revisions"}],"predecessor-version":[{"id":1004578876,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004576763\/revisions\/1004578876"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004576764"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004576763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004576763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004576763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}