Most Active Office Submarkets for 2021 (YTD and Pending Move-ins)
Far North Dallas and Las Colinas are the two most active submarkets. They both have high levels of construction (both recently completed and projects currently underway). For Far North Dallas, JPMorgan Chase has a phase 2 built-to-suit and along with other construction projects in the Legacy area (Keurig Dr Pepper, Reata Pharmaceuticals) and various spec projects. Las Colinas has Cypress Waters, which continues to deliver multiple properties per year. Mid-Cities has emerged over the past couple of years as a very active submarket due almost exclusively to large built-to-suits like the American Airlines Headquarters that was completed in late 2019 or the multiple phases of Charles Schwab built-to-suits.
Submarket outliers to watch in the future include Uptown and Preston Center (with 1 million and 700K SF, currently underway, respectively). These two smaller, more expensive submarkets have high levels of construction underway, but leasing activity and pending move-ins has not been keeping pace.