More Office Construction in Dallas-Fort Worth

February was a relatively quiet month for Dallas-Fort Worth’s office market in terms of construction activity. According to CommercialEdge, more than 5.6 million square feet of office space was underway across the metro, with only one addition to the existing pipeline. The amount represents 2.0 percent of stock; on a national level, office construction had reached 2.2 percent.

More than 65 percent of the metro’s developments have an estimated completion date in 2022. One of the largest projects to come online by the end of the year is the second tower of The Epic, an 8-acre mixed-use development in downtown Dallas. Westdale Asset Management broke ground on the 485,000-square-foot Epic II in 2019.

In terms of pipeline composition, most developments will add traditional office space to inventory, while medical offices account for only 374,000 square feet. The Platinum Corridor North submarket had the largest pipeline as of February, totaling some 1.5 million square feet.

However, The Metroplex’s newest office project of February broke ground in the North Fort Worth submarket. Hillwood started construction on Hillwood Commons II, a 135,000-square-foot speculative office building within the 900-acre Alliance Town Center development. Completion is expected by February 2023.

CommercialEdge covers 8M+ property records in the United States. View the latest CommercialEdge national monthly office report here.