Torrey Littlejohn thinks Dallas will continue to be a top contender for corporate relocations “as large out-of-state businesses consider moving to Texas to tap into cheaper labor and more favorable tax treatments.”
Littlejohn, managing director and recently named co-leader for JLL’s Dallas office tenant representation team, sees an emphasis on health and wellness, as well as recruiting, by tenants.”Flight to quality and demand for Class A product will continue to be strong,” she says.
Littlejohn is among the experts invited to share their thoughts on the CRE market for our recent DALLAS® magazine that focused on how DFW punches above its weight in commercial real estate. Here’s what she had to say in “View from the Top Tier.”
What factors will influence office leasing in North Texas in 2022?
Inflation and rising interest rates may create some challenges. Sticker shock on rents and construction may extend the decision process for companies who have not been in the market recently. However, North Texas still has extremely attractive labor demographics for companies. Increasing real estate costs are palatable when companies are better able to manage and grow their talent and productivity.
How do you envision the office environment of the future?
Despite the willingness to continue to work from home on a regular basis post-pandemic, employees still retain a strong affinity for the office. Research suggests the office provides a sense of community and belonging, whereas remote work has led to gaps in collaboration, leadership, and managerial competencies. The COVID-19 pandemic ushered in a new appreciation for personal workspace, but that doesn’t mean that workplaces should evolve into sterile and isolating environments once people return. On the contrary, after months of remote working, many have learned that the value a workplace offers is not an individual desk or office, but a place to gather for collaboration, brainstorming, and socialization.
The workplace of the (near) future should incorporate spaces that empower and encourage exactly what we have all been missing: connection. Offices must inspire collaboration and innovation through their design, with the physical space a reflection of the culture.
This interview has been edited for brevity and clarity.
A version of this story first appeared in the print edition of DALLAS® Commercial Real Estate 2022, published by Dallas Next for TREC and the Dallas Regional Chamber. Read more in the digital edition of the magazine below, and request the next print edition here.
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The real estate magazine is part of the DALLAS® media platform that includes the DALLAS® Relocation and Newcomer Guide and the DALLAS® Economic Development Guide. Published by Dallas Next for the Dallas Regional Chamber, together they tell the world about the future of live, work, learn, and play in North Texas.
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