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2019 bodes well for Metroplex office market

April 11, 2019

​DALLAS-FORT WORTH – The positive outlook for North Texas’ office market seems to be carrying over from 2018 so far this year, according to CBRE’s 1Q2019 Dallas-Fort Worth Office MarketView​.

A graph for DFW's office market showing the vacancy rate (20.7 percent), average asking rate ($25.01 psf), net absorption (751,573 sf), deliveries (330,000), and space under construction (4.1M sf). in addition, the graph shows the historical absorption and vacancy rate, by quarter, since 2010

Absorption remained positive at 751,573 sf of taken space, with Far North Dallas leading the way at 475,283 sf. LBJ Fwy. saw the most move-outs with 232,196 sf of negative absorption.

Development activity at the start of the year was up slightly from last quarter, with 683,000 sf breaking ground and 4.1 million sf under construction.

Vacancy dipped 10 basis points since fourth quarter 2018, but has remained comparatively flat since last year. 

Rents are at $25.01 per sf metrowide, a 3.1 percent ($0.76) increase over the quarter.

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