Office space in North Texas is cheaper than most major markets

Although Dallas-Fort Worth ranked as the 32nd most expensive cities for office space in the world, DFW is still much cheaper than other major U.S. markets.

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Although Dallas-Fort Worth ranked as the 32nd most expensive cities for office space in the world, DFW is still much cheaper than other major U.S. markets.

Point2, is an international real estate search portal and a division of Yardi Systems that conducts in-depth analysis of the real estate market.

Scoring premium office spaces within popular cities come at premium prices, according to the data. Point2 determined office leases in sought-after business districts in the top U.S. cities and utilized CommercialEdge’s data while cross-referencing with international lease statistics from JLL, CBRE and Cushman Wakefield.

Dallas’ premium office rent in Uptown is $38 per square foot per year. Office space in Dallas with 6,000 square feet of premium office space leased for $207,900. That’s just 24% of the price compared to London ($163 per SF) and following behind cities such as 30. Shenzhen, China ($40 per SF), and 31. Mumbai, India ($39 per SF).

Prices in 17. Austin ($63 per SF) prices soared, comparable to lease rates in 16. Luxembourg and 16. Boston ($64 per SF) and 14. Milan ($65 per SF).

Office rates were also on the rise for 18. Miami ($58 per SF) as it passed 19. Sydney ($58 per SF) and 20. Frankfurt ($57 per SF).

Office space in Manhattan and San Francisco are the most expensive in the U.S., but not in the world. Manhattan ranked sixth in the study at ($91 per SF) while San Francisco ranked seventh ($89 per SF).

London’s office space is the most expensive on the list. The premium office space rent in West End is $163 per square foot per year. In addition, the average office space in London’s West End is leased for nearly $1 million.

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