You are using an outdated web browser. For optimal user experience and to get the most out of this site, please view this on a newer browser. Or you can click here to download Google Chrome.

Colliers International | Global Occupier Guide

Search

Dallas, TX

BOMA

Space Measurement Standard
SQMT
SQFT
Space Unit of Measure

USD

  • Convert currency to:
  • ALL - Albanian Lek
  • ARS - Argentine Peso
  • AUD - Australian Dollar
  • BRL - Brazilian Real
  • BGN - Bulgarian Lev
  • CAD - Canadian Dollars
  • CLP - Chilean Peso
  • CNY - Chinese Yuan Renminbi
  • COP - Colombian Peso
  • CRC - Costa Rican colón
  • HRK - Croatian Kuna
  • CZK - Czech Koruna
  • DKK - Danish Krone
  • EGP - Egyptian Pound
  • AED - Emirati dirham
  • EUR - Euro
  • HKD - Hong Kong Dollar
  • HUF - Hungarian Forint
  • INR - Indian Rupee
  • IDR - Indonesian Rupiahs
  • ILS - Israeli new shekel
  • JPY - Japanese Yen
  • KRW - Korean Won
  • MXN - Mexican Peso
  • MAD - Moroccan Dirham
  • TWD - New Taiwan Dollar
  • NOK - Norwegian Kroner
  • PAB - Panamarian Balboa
  • PEN - Peruvian Sol
  • PLN - Polish Zloty
  • GBP - Pound Sterling
  • RON - Romanian Leu
  • SAR - Saudi riyal
  • RSD - Serbian Dinar
  • ZAR - South African Rand
  • SEK - Swedish Krona
  • CHF - Swiss franc
  • THB - Thai Baht
  • TRY - Turkish Lira
  • UAH - Ukrainian Hryvnia
  • USD - US Dollars
Financial Data Currency

No

Transfer Taxes

Office Occupier Market Condition

1,1,1

Occupier Market Conditions – How conducive is the regulatory environment to starting and operating a business. Source: Colliers

Labor Cost – Wages for skilled office workers. Source: City Globe and Colliers

Tenant Favorable – Assessment of the real estate market condition for office space. Source: Colliers

Quadrant Legend: Blue = Favorable Medium Blue = Neutral Red = Less Favorable

Typical Loss Factor

18%

From rentable to useable square feet

Landlord Concessions

Fit-Out Concession

The Landlord typically provides a contribution or concession to fit-out as a part of the lease transaction.

Amount of Fit-Out Concession

$3/sf-$7/sf

Typical range of fit-out contribution.

Fit-Out Cost Notes:

Range is per year of lease term for new (not renewal) deal

Rent-Free Period

The Landlord typically provides a contribution or concession in the form of a rent-free period.

Standard Range of Rent-Free Months

0.5mo.-1mo.

Typical number of rent-free months.

Tenant Rep Broker Fee (New Leases)

The Landlord typically pays the tenant rep broker’s fee.

Tenant Rep Broker Fee (Renewals)

The Landlord typically pays the tenant rep broker’s fee.

Lease Provisions

Lease Term

3yrs.-12yrs.

Typical lease term in years.

Operating Expenses & Service Charges Included

Quoted market rent typically does not include operating expenses (service charges). There are additional charges that apply to leasing space.

Additional Charges

$5/sf-$20/sf

Estimated range for all additional charges per Square Feet.

Additional Charges:

Utilities
Service Charges
Stamp Duty
Electric
Rates
HST
Cleaning
Hydro
Registration Fees
Taxes
Insurance
VAT
Other

Service Charge Notes:

Most Class A on a net basis, most Class B on a gross basis, both are Plus Electric.



In the U.S., this is known as tax and operating expenses but not electric for lights and outlets.

Lease Fundamentals: The following apply to both office and industrial leases.

Lease Execution Requirements:

Typical upfront requirements
None for strong credit tenants
Upfront rental payment
Security deposit
Corporate guarantee
Not Applicable

Negotiated Subletting/Assignment

Typically, the tenant's right to sublease or assign the space is negotiated in the lease agreement.
Landlord Consent: Typically, the landlord's written consent IS still required.

Statutory Subletting/Assignment

This IS a statutory right.
Landlord Consent: The Landlord's consent is still required.

Blend & Extend Strategies

Typically, a tenant can take advantage of "blend & extend" ("forward renewal", "early renewal", etc.) strategies when the appropriate market conditions exist.

Statutory Early Termination

This is NOT a statutory termination right.

Negotiated Early Termination

It IS typical for tenants to be able to negotiate an early termination right in the lease agreement.

Early Termination Notes:

Not typical, but if so, minimum is a 4 months penalty with 8% amortization of all tenant improvements, commissions, and free rent.

Workplace

Regional Office Space

110sf-200sf

Typical Square Feet per employee (includes office square footage for employees and contractors).

Regional HQ Office Space

140sf-225sf

Typical Square Feet per employee (includes office square footage for employees and contractors).

Desk Sharing

Desk-sharing is not a common practice in the market.

Industrial Occupier Market Condition

1,1,1

Occupier Market Conditions – How conducive is the regulatory environment to starting and operating a business. Source: Colliers

Labor Cost – Wages for manuafacturing and warehouse/distribution office workers. Source: City Globe and Colliers

Tenant Favorable – Assessment of the real estate market condition for industrial space. Source: Colliers

Quadrant Legend: Blue = Favorable Medium Blue = Neutral Red = Less Favorable

Landlord Concessions

Fit-Out Concession

The Landlord typically provides a contribution or concession to fit-out as a part of the lease transaction.

Amount of Fit-Out Concession

$6/sf-$15/sf

Typical range of fit-out contribution.

Rent-Free Period

The Landlord typically provides a contribution or concession in the form of a rent-free period.

Standard Range of Rent-Free Months

1mo.-4mo.

Typical number of rent-free months.

Rent-Free Notes:

Months

Tenant Rep Broker Fee (New Leases)

The Landlord typically pays the tenant rep broker’s fee.

Tenant Rep Broker Fee (Renewals)

The Landlord typically pays the tenant rep broker’s fee.

Lease Provisions

Lease Term

3yrs.-10yrs.

Typical lease term in years.

Operating Expenses & Service Charges Included

Quoted market rent typically does not include operating expenses (service charges). There are additional charges that apply to leasing space.

Additional Charges

$1.5/sf-$4/sf

Estimated range in total for all additional charges per Square Feet.

Additional Charges:

Utilities
Service Charges
Stamp Duty
Electric
Rates
HST
Cleaning
Hydro
Registration Fees
Taxes
Insurance
VAT
Other

Lease Fundamentals: The following apply to both office and industrial leases.

Lease Execution Requirements:

Typical upfront requirements
None for strong credit tenants
Upfront rental payment
Security deposit
Corporate guarantee
Not Applicable

Negotiated Subletting/Assignment

Typically, the tenant's right to sublease or assign the space is negotiated in the lease agreement.
Landlord Consent: Typically, the landlord's written consent IS still required.

Statutory Subletting/Assignment

This IS a statutory right.
Landlord Consent: The Landlord's consent is still required.

Blend & Extend Strategies

Typically, a tenant can take advantage of "blend & extend" ("forward renewal", "early renewal", etc.) strategies when the appropriate market conditions exist.

Statutory Early Termination

This is NOT a statutory termination right.

Negotiated Early Termination

It IS typical for tenants to be able to negotiate an early termination right in the lease agreement.

Early Termination Notes:

Not typical, but if so, minimum is a 4 months penalty with 8% amortization of all tenant improvements, commissions, and free rent.

Project Management

Section 1. Fit Cost Data

Value-Added Opportunities:

Source and vet various regional and statewide used furniture and furniture disposal companies to assist clients in the re-configuration (re-use) of existing furnishings to better allow for the new norm of social distancing in the workplace.















Source and vet various regional and statewide cabling and IT vendors so that we have someone immediately available for our clients for all of the new / changing technology forthcoming (due to ongoing basic upgrades and the new IT requirements needed for social distancing and working remotely).















Meet with several area GCs to set up instant availability for immediate overall construction work (possibly arrange & set up preferred contracts with the top four).

Total Fit-Out Cost

$160/sf-$250/sf

Class A Office

$90/sf-$160/sf

Class B Office

$60/sf-$150/sf

Flex Office / Warehouse

$60/sf-$100/sf

Warehouse

Total Fit-Out Cost Notes:

The fit-out cost refers to the total cost of design, construction, and installation for a space. It includes categories such as materials, labor, furniture, fixtures, equipment, finishes and other related costs. The specific factors influencing the total fit-out cost can vary widely depending on the project scope, location, size of the space, quality of materials, and complexity of design.

Furniture Cost

$31/sf-$44/sf

Flex Office / Warehouse

$31/sf-$44/sf

Warehouse

Furniture Cost Notes:

Average estimate for DFW area.

Low Voltage Cabling Cost

$4/sf-$7/sf

Flex Office / Warehouse

$4/sf-$7/sf

Warehouse

Low Voltage Cabling Cost Notes:

Average estimate for DFW area.

Construction to Move-in Cycle Time

16wks-30wks

Class A Office

12wks-30wks

Class B Office

12wks-20wks

Flex Office / Warehouse

16wks-22wks

Flex Office / Warehouse

Cycle Cost Notes:

Depends on complexity and size of the project, and city where permit is requested - total weeks shown (for Flex Ofc./WH) are based on approx. 50,000/sf for a basic 30% office with a 70% warehouse development.

Section 2. Scope of Work Description

Phase 1: Services Before and During the Transaction

Review the LOI and work letter portion of the Lease to ensure that the clients interests are protected during the build-out of the project.
Typically included in "Project Management" scope of work.
Advise Colliers broker and client on project issues and their resolution as they occur.
Typically included in "Project Management" scope of work.
Participate in building tours, if requested, to evaluate building systems and other cost-related observations and prepare a building due diligence report
Typically included in "Project Management" scope of work.
Develop high-level project estimate and timeline based on test fit and Client standards
Typically included in "Project Management" scope of work.
Schedule and chair Schematic Drawings and Design Development Drawings review meetings/conference calls
Typically included in "Project Management" scope of work.
Define workplace strategy for client, research what kind of location, office / work environment accelerates business
Not typically included at all, but available for an additional fee.
Define program of requirements for location, building and interior characteristics
Typically included in "Project Management" scope of work.
Engage with the Client Facilities Management (FM) Operations team to ensure alignment with Client standards
Typically included in "Project Management" scope of work.
Test fits for different building options
Typically included in "Project Management" scope of work.
Negotiation of technical agreements in the lease contract + hand over inspection and agreement
Typically included in "Project Management" scope of work.
Perform Test-fit
Typically included in "Project Management" scope of work.
Phase 1 Notes:
Define workplace strategy for client, research what kind of location, office / work environment accelerates business: typically handled by Colliers Workplace Strategy team.

Define program of requirements for location, building and interior characteristics: preliminary program only to validate square footage targets - detailed programming is performed by the architect.

Meet w/ Client's preferred building Landlord and/or Prop. Manager to confirm client's upcoming timelines are allowed; and confirm that all necessary ""social distancing"" required guidelines can be met within the preferred building, floor & suite.

Phase 2: Service Before and During the Design Process

Develop preliminary project budget and schedule.
Typically included in "Project Management" scope of work.
Develop the RFP for selection of a space planner/architect and any other consultants identified and required
Typically included in "Project Management" scope of work.
Analyze, compare and evaluate responses to the RFP.
Typically included in "Project Management" scope of work.
Orchestrate the space planner/architect interview process.
Typically included in "Project Management" scope of work.
Negotiate, on behalf of the client, professional services agreements with the space planner/architect and other consultants.
Typically included in "Project Management" scope of work.
Review architect’s final Program of Requirements.
Typically included in "Project Management" scope of work.
Monitor the design team’s schedule of deadlines and deliverables. Coordinate meetings with the design team and the client. Manage the design process on behalf of the client.
Typically included in "Project Management" scope of work.
Review and recommend payment of the invoices for services. Submit invoices for payment to landlord or client and prepare monthly reports of project costs versus project budget.
Typically included in "Project Management" scope of work.
Negotiate all client-vendor contractors (IT, AV, Security/Access Control, Signage, High Density Filing) on behalf of client.
Typically included in "Project Management" scope of work.
Coordinate with either Architect or General Contractor in permitting process
Typically included in "Project Management" scope of work.
Schedule and chair weekly design review meetings/conference calls
Typically included in "Project Management" scope of work.
Other Value-Add Services: Test fits (including Look & Feel) - Cost Estimates - Schedule/timing/phasing scenarios - Floor plan, core and circulation efficiency ratios(GIA vs NIA) (NOA vs NIA) - Technical due diligence/Assessments - We may pack everything into a Feasibility Study or proposed them separately depending on the situation.
Not typically included at all, but available for an additional fee.
Define interior guidelines for architect based on workplace strategy
Typically included in "Project Management" scope of work.
Control workplace strategy and functionality and during design process
Typically included in "Project Management" scope of work.
Architectural design
Not available / not a service that can be offered.
Phase 2 Notes:
Architectural design requires an architect.

Phase 3: Services Before Construction

Liaise with the Landlord’s Representative.
Typically included in "Project Management" scope of work.
Prequalify a list of general contractors to be interviewed (consult lease to confirm any Landlord required GCs).
Typically included in "Project Management" scope of work.
Develop the RFP, including Landlord and/or Lease required documents, for selection of a general contractor.
Typically included in "Project Management" scope of work.
Analyze, level, and evaluate the responses to RFP.
Typically included in "Project Management" scope of work.
Orchestrate general contractor interview process and prepare evaluation scorecard.
Typically included in "Project Management" scope of work.
Review all proposed subcontractors and monitor the general contractor’s subcontractor bid process to ensure integrity of the process and quality of the workmanship.
Typically included in "Project Management" scope of work.
Monitor the general contractor’s schedule of deadlines and deliverables. Coordinate meetings between the design team, general contractor, client and appropriate vendors.
Typically included in "Project Management" scope of work.
Negotiate, on client's behalf, the General Contractor agreement for Client approval
Typically included in "Project Management" scope of work.
Schedule and coordinate Architect's 90% Construction Drawings review
Typically included in "Project Management" scope of work.
Develop Project Cost Summary + Invoice Tracker and update weekly
Typically included in "Project Management" scope of work.
Phase 3 Notes:
Also typically included in PM and Design/Build SOW, verify w/ general contractors & architect any potential "Lead-Time" products, materials or issues with the specified products indicated within the 90% plans.

Phase 4: Services During Construction

Coordinate with the Landlord’s Representative.
Typically included in "Project Management" scope of work.
Conduct weekly construction meetings to assess progress, quality and conformance with the Contract Documents and distribute minutes of meetings.
Typically included in "Project Management" scope of work.
Monitor the general contractor’s schedule.
Typically included in "Project Management" scope of work.
Monitor the construction budget.
Typically included in "Project Management" scope of work.
Review, and recommend for payment, the contractor’s Applications for Payment.
Typically included in "Project Management" scope of work.
Monitor all project documentation.
Typically included in "Project Management" scope of work.
Act at all times as client’s liaison to vendors contracted directly by Client (IT, AV, Security/Access Control, Signage).
Typically included in "Project Management" scope of work.
Oversee the punch list process to ensure acceptable completion of all items.
Typically included in "Project Management" scope of work.
Close out all consultant, contractor and vendor contracts.
Typically included in "Project Management" scope of work.
Submit General Contractor, vendor, and consultant invoices to Landlord for reimbursement per the Lease Workletter
Typically included in "Project Management" scope of work.
Review and recommend for payment all General Contractor, vendor, and consultant invoices; submit to Client for approval
Typically included in "Project Management" scope of work.
Deliver close-out documents, as specified in the Lease, to Client
Typically included in "Project Management" scope of work.
Coordinate value/engineering process, if required.
Typically included in "Project Management" scope of work.
Provide as-built drawings and O&M Manuals to Client FM Operations team
Typically included in "Project Management" scope of work.
Monitor one year guarantee period and final hand over
Not available / not a service that can be offered.

Additional Services: Services During Relocation

Develop RFP for moving companies, evaluate responses and recommend selection of moving company or identify, interview and review proposal for services from relocation consultants.
Not typically included at all, but available for an additional fee.
Represent Client in development of move strategy.
Not typically included at all, but available for an additional fee.
Monitor development of move activity checklist.
Not typically included at all, but available for an additional fee.
Represent client on site during move process.
Not typically included at all, but available for an additional fee.
Additional Services Notes:
This is an Add Service.

Additional Services: Project Management Services Related to Furniture/Workstation Procurement

Conduct bid process for all furniture (workstations, case goods, seating, filing) purchases specified by the architect and/or client.
Typically included in "Project Management" scope of work.
Conduct bid process for refurbishment of existing furniture and/or workstations.
Typically included in "Project Management" scope of work.
Evaluate bids and negotiate purchase order with manufacturer(s).
Typically included in "Project Management" scope of work.
Negotiate national buying contract with select furniture dealerships, using Colliers International purchasing power
Typically included in "Project Management" scope of work.
Change management before, during and after moving to the new work environment
Not typically included at all, but available for an additional fee.
Measuring/monitoring (KPI's) how the way of working and building accelerates business and goals of the client
Not typically included at all, but available for an additional fee.
Additional Services Notes:
Change management and measuring KPI's typically handled by the Colliers Workplace Strategy team.

Not typically included but available: Work with client to confirm existing product re-use/moves and existing product to be disposed; Coordinate used furniture/disposal company to remove all excess product.

Operating Environment Rankings reported on a scale of 1 (least favorable) to 10 (most favorable).

Human Capital

8, 2 8/10

Labor Force Growth
Labor force growth rate (past 5 years)

3, 7 3/10

Wage Inflation
Rise in wages (past 5 years, local currency)

4, 6 4/10

Millennials
Proportion of population in the age 20-39 cohort


6, 4 6/10

High School Education Equivalent
Proportion of population attaining this level

6, 4 6/10

University Education Equivalent
Proportion of population attaining this level

6, 4 6/10

Overall Education
Composite average of High School & University


5, 5 5/10

Human Capital Composite

Business Climate

6, 4 6/10

Innovation
Presence of innovative factors in economy

5, 5 5/10

Economic Risk
Resilience of economy to unexpected events

8, 2 8/10

Business Environment
Friendliness of business environment

3, 7 3/10

Corporate Tax Rate
Favorable corporate tax rate


6, 4 6/10

Business Climate Composite

Operating Environment Composite

6, 4 6/10

Combined average score of Human Capital and Business Climate factors

This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s).

Back to Top