Byron McCoy Talks Office Market
YP’s own Byron McCoy (second from right) served on the “Too Much, Too Little, or Too Late” real estate panel at the 9th Annual North Texas Realty Symposium on Friday. The event was organized by the Appraisal Institute, North Texas Chapter. Byron says the office market has seen seven consecutive years of rental rate increases in the Dallas area while vacancy hovers around 15%. The key to the hot office market: JOBS. Byron says the DFW market is adding about 90,000 jobs annually and he doesn’t see that decreasing any time soon. The office market is doing a great job of absorbing space, but there is some work to be done in backfilling space left vacant by companies moving into bigger, newer corporate campuses.