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significant slowdown in office construction has hit the Dallas-Fort Worth area, marking a first major lull in over a decade. No major projects broke ground in the third quarter, according to JLL's recent report cited by the Dallas Business Journal. This pause is notable given DFW's years of continuous growth and development, with the last quarter-long pause occurring after the Great Recession in 2010.

    Several large projects are still underway, including the Goldman Sachs campus in Uptown Dallas and the Wells Fargo campus in Irving, which have contributed to DFW's standing as the second-largest office construction market in the US. However, the construction stall has raised concerns about the future of office development, with the office vacancy rate rising to 26.7 percent.

    Despite this, leasing activity remained robust, with over 3.7 million square feet of deals signed in the fourth quarter, a slight increase from the previous quarter. Most leases were renewals, highlighting a trend where companies are opting for short-term extensions over long-term commitments. Remote work and the tumultuous political climate are affecting the leasing environment, according to JLL's T.D. Briggs.

    Some companies are choosing to buy office buildings instead of leasing, such as Raising Cane's acquisition of a 400,000-square-foot building in Plano. The construction slowdown may help the market absorb some of the vacancy and prevent overbuilding, said Micah Rabalais of JLL. Looking ahead, Rabalais predicts DFW will experience positive momentum in the office market by 2025 as demand for quality office spaces continues to grow.