DFW Office Sublease Trends & Takeaways
Over the past seven months, the 9.5 million square feet of sublease office space available across DFW has been largely stagnant. However, there has been an increasing amount of movement over the past two months. We’ve discovered a few primary trends that have been keeping the total flat.
First, there have been short-term subleases with expiring leases rolling over to direct vacant space. Second, some tenants have decided that they want to re-occupy their own space like NTT Data at One Legacy West and PLH Group at Canal Centre. Meanwhile, other tenants continue to put additional sublease space on the market such as Securus Technologies, RealPage, Mitel, PwC and Lockheed Martin.
Four submarket account for the vast majority of sublease space available (Far North Dallas, Las Colinas, the Dallas CBD and Richardson/Plano). These four submarkets account for 69% of all sublease space currently available.