DALLAS-Cushman & Wakefield of Texas Inc. has released its Q2 2013 office leasing numbers, which shows good news. Thanks to improving market fundamentals, absorption was 1.5 million square feet, while vacancy stood at 17.9% out of an inventory of 202.3 million. The vacancy percentage dropped from 20.3% recorded during the same time in 2012.

Cushman & Wakefield also reported that:

  • Construction completions totaled 502,333 square feet, with three speculative projects accounting for 55.2% of the total.
  • Construction projects increased by 294.2% compared to Q2 2012. Close to 4 million square feet is under construction, the highest total since year-end 2008 (during which 4.4 million square feet was under construction).
  • Asking full-service rental rates across classes recorded $20.40 per square foot, an increase of 0.8% over Q2 2012 levels.

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