In Dallas, Too Much Office Space

Malls are lacking tenants; so too are offices. And, says this morning's New York Times, it's going to get worse -- even in a market like Dallas, "which had been shielded from the economic downturn until recently by skyrocketing oil prices and expanding energy businesses." One real-estater quoted in the...

By Robert Wilonsky

January 5, 2009

[
        {
          "name": "Air - MediumRectangle - Inline Content - Mobile Display Size",
          "component": "18855504",
          "insertPoint": "2",
          "requiredCountToDisplay": "2"
        },{
          "name": "Editor Picks",
          "component": "17105533",
          "insertPoint": "4",
          "requiredCountToDisplay": "1"
        },{
          "name": "Inline Links",
          "component": "18349797",
          "insertPoint": "8th",
          "startingPoint": 8,
          "requiredCountToDisplay": "7",
          "maxInsertions": 25
        },{
          "name": "Air - MediumRectangle - Combo - Inline Content",
          "component": "17105532",
          "insertPoint": "8th",
          "startingPoint": 8,
          "requiredCountToDisplay": "7",
          "maxInsertions": 25
        },{
          "name": "Inline Links",
          "component": "18349797",
          "insertPoint": "8th",
          "startingPoint": 12,
          "requiredCountToDisplay": "11",
          "maxInsertions": 25
        },{
          "name": "Air - Leaderboard Tower - Combo - Inline Content",
          "component": "17105535",
          "insertPoint": "8th",
          "startingPoint": 12,
          "requiredCountToDisplay": "11",
          "maxInsertions": 25
        }
      ]

Malls are lacking tenants; so too are offices. And, says this morning's New York Times, it's going to get worse -- even in a market like Dallas, "which had been shielded from the economic downturn until recently by skyrocketing oil prices and expanding energy businesses." One real-estater quoted in the piece guesstimates Dallas will see a 19-percent vacancy rate in '09, up from last year's rate by quite a few. Warns Dan Fasulo, managing director of New York City-based Real Capital Analytics, ''I see a wave of troubled assets coming out of Texas in the near future.'' --Robert Wilonsky

KEEP THE OBSERVER FREE... Since we started the Dallas Observer, it has been defined as the free, independent voice of Dallas, and we'd like to keep it that way. Your membership allows us to continue offering readers access to our incisive coverage of local news, food, and culture with no paywalls. You can support us by joining as a member for as little as $1.