Office Sector Makes Headway in Texas

Austin and Dallas led the way in construction starts and office-using employment growth, the latest CommercialEdge office report shows.

New office starts across the nation amounted to a little more than 63 million square feet in 2021, a significant decrease from the 86.4 million square feet recorded in 2019, but a slight bounce back from the 58.4 million square feet in 2020. According to the latest CommercialEdge office report, Austin (5.3 million square feet) and Dallas (4.5 million) recorded most office groundbreakings last year, followed by life sciences-centric markets: The Bay Area (3.8 million square feet of starts) and San Francisco (3.1 million) led the way in this sense, despite an accelerated rate of domestic and business out-migration...

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RSK: This is why I wouldn`t be surprised to see Musk move Twitter to Texas....it`s booming and in my estimation has a much better workforce to draw from than California.



- - Volume: 10 - WEEK: 19 Date: 5/3/2022 9:50:24 AM -