DALLAS-The Metroplex’s impressive job growth has positively impacted the region’s entire office market, but the Far North Dallas submarket is “on fire,” according to Mary Stoner Yost, executive vice president with Colliers International’s local office.

“There’s a shortage of good options,” Yost says, referring to Far North Dallas submarket, which primarily consists of the office nodes along the Tollway in Plano and Frisco. She tells GlobeSt.com that she is tracking more than 100,000 square feet of demand in the Far North Dallas submarket alone.

That demand ties directly into job growth, Yost notes. In fact, the North Texas economy strengthened considerably during the first half of 2011. Employment increased by 83,100 across the Metroplex from April 2010 to April 2011, representing a 2.9% gain. The Dallas/Fort Worth unemployment rate declined to 7.7% in April 2011, from a cyclical peak of 8.5% in January and from 8.1% a year ago.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.