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<\/p>\nThe financial services sector is driving the improving office market in the Metroplex as Y’all Street finalizes its footprint.<\/p>\n
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\n Dallas-Fort Worth’s office leasing activity maintained its positive momentum during the first half of 2025.\n <\/p>\n
Dallas-Fort Worth office leasing activity continued its positive momentum during the second quarter with 3.2M SF snapped up. That pushed\u00a0leasing volume in the first half up\u00a035% year-over-year, according to Savills’ Q2 office report<\/a>.<\/p>\n \u201cWe’re seeing strong leasing compared to prior years and other markets as well,\u201d Savills Research Manager Deandre Prescott<\/a> said.\u00a0<\/p>\n Avison Young<\/a>\u2019s midyear office report also showed improvement across all key indicators<\/a>. That firm expects leasing will continue to rise for the remainder of the year, thanks to the return-to-office trend.<\/p>\n With several locations in the Metroplex, AT&T\u2019s recent\u00a0move to a full office week<\/a>\u00a0has buoyed DFW\u2019s 61% office usage\u00a0rate. That continues to be one of the strongest in the U.S., according to Savills.<\/p>\n AT&T’s 186K SF lease in Richardson to expand its local call center<\/a> was the biggest transaction of the second quarter, but the financial services and insurance industry made up half of the top 10 office transactions in DFW. Those\u00a0five transactions totaled more than 292K SF leased during the quarter.<\/p>\n Y\u2019all Street started to rise last year<\/a> when\u00a0the new\u00a0Texas Stock Exchange<\/a>,\u00a0backed by\u00a0investors like\u00a0BlackRock<\/a>\u00a0and\u00a0Citadel Securities<\/a>,\u00a0raised $120M to create an alternative to the New York Stock Exchange<\/a> and Nasdaq<\/a>\u00a0Stock Market. TXSE aims to make its headquarters in the heart of Dallas, including executive offices, a conference center and a broadcast center.<\/p>\n The existing securities exchanges soon followed so they wouldn\u2019t be left out of the Texas heat. The NYSE announced in February<\/a> that it would reincorporate its Chicago branch in Dallas, and Nasdaq said the next month that it was planning a regional headquarters in the city<\/a> that would serve the entire Southeast.<\/p>\n That activity is expected to be a boon for DFW\u2019s office market.<\/p>\n \u201cWe are optimistic that [will] likely drive some leasing activity looking forward,\u201d Prescott said.<\/p>\n The Metroplex\u2019s lower cost of living, business-friendly economic structure and plentiful local and state incentives make it an attractive location for many companies, Prescott said.\u00a0<\/p>\n The Metroplex’s availability rate dropped 170 basis points compared to last year, but it has been relatively flat for the last few quarters. With around 6.5M SF of new product under construction, Savills<\/a> expects availability could rise from its current point at just over 28%.<\/p>\n Class-A office space continues to dominate leasing and drive rent growth.<\/p>\n \u201cWhen you’re looking at demand, the flight-to-quality trend is still there,\u201d Prescott said. \u201cGreat amenity buildings are attracting more of the occupier demand.\u201d<\/p>\n There is also still demand for Class-B office space, but much of that product is being renovated to stay competitive, he\u00a0said.\u00a0<\/p>\n While the Metroplex\u2019s office market showed promising signs during the first half of the year, Avison Young Texas Regional Lead Ariel Guerrero<\/a> said there\u00a0is still work to be done.<\/p>\n \u201cA full return to normal market fundamentals will take more time,\u201d Guerrero said in an email. \u201cA sustained recovery will ultimately hinge on stronger leasing momentum through the remainder of 2025.\u201d<\/p>\n