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Dallas-Ft. Worth Shouldering 47.2 Mil-SF Office Vacancy

DALLAS-The DFW region wrestles with the highest amount of sublease space in the nation, nearly eight million sf at Q3's close, says Grubb & Ellis. Add in the 39.2 million sf that's currently vacant and 8.3 million sf under construction and the mercury's dangerously high.

By Connie Gore | Updated on October 07, 2001

DALLAS-Coast to coast and border to border, business hubs brace for the worst third quarter in a decade. Dallas-Ft. Worth is right up there, recording the highest available sublease space in the nation, says Grubb & Ellis Co.’s Dallas research team.

It’s a repeat of the early 1990s, concur three veteran DFW executives whose expertise lies in the office leasing and development arena. The DFW is pushing eight million sf of sublease space across the board and another 350,000 sf reportedly is coming to market in the hard-hit, high-tech Telecom Corridor, Jim Lob, Grubb & Ellis senior vice president, tells GlobeSt.com. Just in Q3, 1.22 million sf was added to the sublease roster. Meanwhile, there’s another 39.2 million sf vacant from one end of the metroplex to the other.

The preliminary Q3 tabulations brought some surprises for the veteran Lob. “I did not think we would see significant adjustment in class A,” he says, reporting rent drops and vacancy hikes across the entire metroplex.

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