Dallas – Fort Worth

April 11, 2013

Chart of the week

Mixed-use & amenities drive Legacy’s performance
Total Vacancy 40.0%

30.0%
20.0%

10.0%
0.0% 2009 1Q Direct Rents $33.00 2010 1Q 2011 1Q 2012 1Q 2013 1Q

$29.00 $25.00 $21.00 $17.00

2009 1Q 2010 1Q 2011 1Q 2012 1Q Legacy Town Center Legacy - Overall Far North Dallas Submarket
Source: Jones Lang LaSalle

2013 1Q Suburban Dallas

• Much like Reston Town Center (near Washington, DC), Legacy Town Center was not the initial development phase. Rather, it was planned as a mixed-use centerpiece to complement the existing business parks in the overall Legacy area. • LTC has evolved into one of the region’s most desirable suburban office addresses and has created an focal point and identity for the Legacy area, as well as the Far North Dallas submarket. • While complicated to plan and expensive to build, town centers are claimed to earn a performance premium. LTC, is a clear case where this is true – consistently out-performing the market in occupancy and rent levels. • This premium extends beyond the town center. The Legacy area also earns a top rank in office occupancy and rents due to this enhanced identity, capturing almost half of all the Far North Dallas submarket’s net office absorption since 2010.

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