US Freedom Capital Blog

Dallas office space demand among strongest in the USA

Posted by USFC Team on Mar 19, 2018 8:00:00 AM

Long a magnet for corporate relocations and expansions, Dallas-Fort Worth ranks among the top 10 metros nationwide with a strong demand for pre-leasing office space.

According to a March 14 report by CBRE Group, about 1.1 million square feet of roughly 3.75 million square feet of local office space expected to deliver between 2018 and 2022 has been pre-leased. That represents a pre-lease rate of 41 percent.

Robert Kramp, director of research and analysis with CBRE, says the figures show the region not only has a robust construction pipeline, but tenants are quickly snapping up space as it becomes available.

Demand for Dallas-Fort Worth office space stems from a couple of factors. One is the ease of securing real estate in the area.

"One of the reasons DFW has been a magnet for corporate relocations and expansions is the supply of Class A office space and companies can discretely negotiate terms moving into office space, versus getting into a bidding war," Kramp added.

And with a low unemployment and a demand for talent, companies are moving to and expanding in offices that offer amenities they think will be attractive to existing workers and new hires.

"Building owners are adding additional amenities like tenant lounges, WiFi connections throughout and fitness centers so that the average employee can stay at the building longer and be more efficient," said Shannon Brown, first vice president at CBRE.

With that in mind, neither Kramp nor Brown sees DFW's office space being overbuilt in the near future.

Austin, the other Texas city included in the report, has a pre-leasing rate of 53 percent for about 3 million square feet.

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Topics: Texas, office, economy

New tax law already benefiting Texas businesses, residents

Posted by USFC Team on Mar 4, 2018 9:13:31 PM

By US Senator John Cornyn

No one likes paying taxes, but everyone appreciates paying less of them. That’s true of families as well as employers. Sending less money to Uncle Sam means there’s more cash in the wallet to save, invest or pay off a debt.

In December, Congress passed, and the president signed, the Tax Cuts and Jobs Act, the first major overhaul of our nation’s tax code in more than 30 years. In Texas, I’m proud to say that the initial effects were immediate. They were significant. And they’ve started to make life easier for Texans who are financially strapped.

Thanks to a new, more competitive tax system, Fort Worth-based companies such as American Airlines paid large bonuses to employees. AT&T, also headquartered in the DFW Metroplex, paid $1,000 to more than 200,000 men and women across the country. Just as important, it also announced $1 billion in capital investments, which should create more than 7,000 new jobs.

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