I had to laugh when I read the newspaper a few days ago. Steve Brown is the real estate editor for the Dallas Morning News. He wrote an article several weeks ago which prompted me to write a blog post in response.
So when I saw his latest article entitled “D-FW tops nation in office leasing”, I just laughed. He cited a CBRE study which says that net office leasing for 2016 was 5.3 million square feet (SF). The last article he wrote cited a study from Cushman & Wakefield which said the number was only 2.9 million SF.
I pointed out in my critique that the study ignored activity from companies like State Farm which moved out of multi-tenant buildings into single-tenant buildings. This made the numbers look smaller than they should have been and that Mr. Brown should have at least mentioned this in his article. So this new article seems to validate my sentiments.
It’s also good to see further validation of how great Dallas is these days.
Bob Gibbons is a Real Estate Advisor & Tenant Advocate with REATA Commercial Realty, Inc. which is a tenant advisory firm based in Plano, Texas. Bob serves companies in Plano, Frisco, McKinney, Allen, Richardson, Addison, Dallas and the surrounding areas and specializes in companies which lease or buy office and warehouse properties.”