It might be surprising, but despite leasing going up, a large amount of the Dallas skyline is still in the red, according to a study reported by the Dallas Morning News.
Just released by commercial real estate firm JLL in its annual “Dallas Skyline” the report gives information on occupancy and rents in major buildings in the downtown area.
Some of the largest buildings downtown are between 16 and 60 percent vacant, while most of the newer buildings in Uptown are less than 10 percent empty.
The vacancy in the downtown area is about 23 percent. Ouch!
According to JLL research director Walter Bialas said, “To understand the real trends and opportunities, however, you really have to look at the properties individually. Many of our skyline buildings, which represent our urban core’s top-tier assets, are in high demand by tenants as evidenced by rising rents and above average occupancy.”