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A Downtown address provides distinct advantages:
competitive lease prices, superb access, a daytime population
of 120,000-plus and a growing residential population.
- With an office space inventory of 29.4 million square
feet, Downtown leasing transactions during 2003 totaled
almost 1.96 million square feet, 4% higher than in 2002.
Lease renewals and expansions signed by Downtown companies
totaled 1,545,473 square feet, a healthy 42% increase compared
to the previous year.
- Significant commitments (50,000 square feet or more) were
made by Baker Botts, Fulbright & Jaworski, Gardere Wynne
Sewell, General Services Administration, Neiman Marcus,
Strasburger & Price and Wells Fargo Bank.
- Last year ended on a positive note: 48,040 square feet
was absorbed in the fourth quarter; Class A leasing activity
remained strong, thanks to major relocations, renewals and
expansions; and, in the retail sector, over one dozen new
restaurants and nightclubs opened last year, continuing
the momentum that began in mid-2002.
CENTRAL BUSINESS DISTRICT
Cushman & Wakefield of Texas, Inc.
| Overall Vacancy Rate |
30.2%
|
28.2%
|
27.9%
|
| Direct Vacancy Rate |
29.4%
|
27.4%
|
25.7%
|
| Direct Weighted Avg. Gross Asking Rental
Rate |
$22.83
|
$22.99
|
$22.88
|
| Direct Avg. Rental Rate (All Classes)
|
$16.70
|
$17.36
|
$18.28
|
| Net Absorption/sq.ft. |
-627,060
|
-738,878
|
-290,491
|
To learn more about investing in DOWNTOWNDALLAS,
contact DID for a free Downtown Market Data Package.
DOWNTOWNDALLAS
1412 Main, Suite 2500
Dallas, TX 75202
info@downtowndallas.org
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