Texas Triangle Office Markets: 60 Degrees of Separation September 2016
In Texas, six degrees of separation is really 60 -- not just because everything is bigger here, but because the physical locations of Dallas/Fort Worth, Houston and Austin form a triangle. Despite their geographic proximity, though, their office markets couldn’t be more different.
Dallas/Fort Worth is the largest office market in the state and the most diverse. Ranked first in the country for job growth over the past year, Dallas had record-smashing absorption in 2015 totaling 5.2 million sq. ft.
Austin is a major player in the tech world. Last year alone, 80% of the 119 relocations to or expansions in Austin came from the tech industry, driving explosive growth in the co-working sector.
Houston’s nickname has taken on new meaning. Its 210 million-sq.-
ft. office market is largely supported by energy-related tenants and is
vulnerable to changes in commodity prices.
Texas’ major office markets may vary, but these three markets are historically strong performers with distinctly independent paths forward.