Dallas/Fort Worth is in a construction boom: between 2015 and 2018 almost 23 million square feet of new office inventory was completed with an additional 7.1 million square feet currently underway, says Younger Partners Director of Research Steve Triolet.
All of these numbers are among the highest in the United States for the respective time periods. With a few notable exceptions (Toyota), the vast majority of the tenants taking occupancy of the new space are leaving behind older Class-A space that will need to be backfilled. Class-A space makes up the vast majority of the space available at 20.7 million square feet or 73% of the large blocks of space.
Sacramento-based RagingWire Data Centers and NTT Communications have bought a large parcel of land in Garland near the Telecom Corridor to build a 1 million-square-foot, 80-megawatt data center campus.