Uptown’s McKinney Avenue ranks as Dallas’ top office address

When it comes to pricey homes, no one argues that the Park Cities and Preston Hollow are A-listers in North Texas.

And for high-dollar apartment rentals, look no further than Uptown.

But what about top price office digs?

Dallas’ McKinney Avenue is the most expensive business address, according to a new report by commercial real estate firm JLL.

In its annual “America’s Most Expensive Streets” report, McKinney Avenue gets the call out with office rents of $43.81 per square foot.

That’s almost twice the overall average for North Texas.

Read more on the Dallas Morning News

Click Here to view the full report

Northeast San Antonio could be the city’s next office hotspot

San Antonio’s rising office market has often been attributed to new developments in the northwestern submarket, but there’s another pocket of the city that — despite significant rent gains — has gone largely unnoticed. The northeast.

According to JLL’s latest office insight report, rents in the bypassed area have risen by nearly $5 per square foot over the past three years, going from an average $19.26 per square foot back in 2012 up to $24.24 for the third quarter of this year. That increase has boosted the submarket from the fourth to the second most expensive office area in the city, with the far north central commanding first place.

Read more on the San Antonio Business Journal

New report: D-FW one of top U.S. office and warehouse markets for 2015

North Texas is near the top of the list of U.S. cities with the most office and industrial building demand.

Through the first nine months of 2015, the D-FW area ranked second in the country in net office leasing, behind only San Jose, Calif., according to a new report by Cushman & Wakefield.

And D-FW was third nationally in net industrial building leased, the commercial real estate firm said.

Read more on the Dallas Morning News

Austin office space: Who’s looking and where? It’s not just tech companies

Think the largest percentage of companies searching for office space in Austin are in the tech sector? Better think again.

About 30 percent of those shopping for office space in downtown Austin are in the professional services industry — accounting, research and other consulting, according to the latest third quarter report by JLL.

Read more on the Austin Business Journal

Read the full JLL third quarter Austin Market Report Here and Here

Behind the List: Office Properties in San Antonio

Where are the largest office properties in the San Antonio area? If you want to know, the San Antonio Business Journal has ranked them according to total rentable square footage. There is a total of over 8 million square feet of office space represented on this year’s list of the largest office properties in San Antonio.

The largest property is Brass Professional Center with over 761,000 square feet of rentable office space. Located at the corner of Loop 410 and Callaghan Road, it was built in 1970. The oldest building on this list was built in 1918 and the newest building was built in 2009.

D-FW net office leasing doubles this year compared to 2014 levels

North Texas’ office market has boomed in the first half of the year, with twice the net leasing the area saw in 2014.

Expanding and relocating businesses rented almost 1.7 million square feet of office space in the first six months of 2015, according to the latest data from Cushman & Wakefield.

And overall office building vacancy rates dropped to about 16 percent — the lowest percentage of empty space since the 1980s, according to the commercial real estate firm’s latest report.

Read More Here on The Dallas Morning News 

Gaedeke Group readies to break ground on Legacy West office tower

Shortly after unveiling the design of its new Legacy West office tower, Dallas-based Gaedeke Group plans to break ground on the 14-story, 327,856-square-foot building, which is the first of a two-building office complex.

The complex will sit next to the headquarters of FedEx Office and Toyota North America upon completion of the two campuses. Liberty Mutual Insurance also will have a large regional hub near the new building.

Read More Here on the Dallas Business Journal 

Major downtown Austin office project lands site plan approval; will financing follow?

McCourt Global, the development partner on the proposed Waller Creek mixed-use project near Cesar Chavez and Red River streets, said Wednesday that a site development plan has been approved by the city.

What this means for moving the 2 million-square-foot project forward isn’t entirely known, given that financing still must be lined up and the development has yet to receive a formal name. The design and configuration also continue to be hashed out.

Read More Here on The Austin Business Journal

Record-breaking demand for office product in San Antonio

More people and more jobs have pushed demand for office space in San Antonio to new heights.

Reaching levels that haven’t been seen since the second quarter of 2007, the amount of absorption for the first quarter of this year is already nearly half of the annual absorption in all of 2014. According to the latest CBRE Marketflash report, the city’s office market had record-breaking demand in the first quarter of 2015, absorbing more than 426,400 square feet, the highest for any first quarter in market history.

Read More Here on the San Antonio Business Journal