Dallas Office Market
| Average Asking Rent (Price/SF) | $28.06 |
| Vacancy Rate (%) | 20.0% |
| Net Absorption (SF) | -2,721,080 |
The Dallas Fort Worth office market saw moderate movement through the first quarter. Vacancy rates have remained relatively stable and have only increased slightly from 19% last quarter to 20% this quarter. Direct leasing accounted for most of the leasing activity during the first quarter at approximately 2.2 million square feet, which is a decrease from the last quarter where it was 2.5 million square feet. Sublease activity accounted for approximately 327,773 square feet, accounting for a small amount of the market’s overall activity. Since first quarter 2020, over 3.5 million square feet has been delivered to the Dallas Fort Worth office market. The Far North Dallas and Uptown/Turtle Creek submarkets account for most of the space being delivered.
Download Dallas Office Market Report 1Q21Dallas Industrial Market
| Average Asking Rent (Price/SF) | $6.86 |
| Vacancy Rate (%) | 6.9% |
| Net Absorption (SF) | 11,016,178 |
The Dallas Fort Worth industrial market continues to function modestly well even during the pandemic. The metroplex’s strong economy, job market, and population boom are some of the many reasons Dallas continues to see a substantial amount of supply. In the first quarter, leasing activity was 15.1 million square feet which is an increase from last quarter in which it was 13.6 million square feet. The market’s nearly 11-year streak of positive absorption continued during the first quarter, as there was approximately 11 million square feet absorbed. A considerable amount of speculative construction has been delivered in recent quarters. The vacancy rate for the first quarter was 6.9%, showing minimal change as it was 7.3% in the fourth quarter. The vacancy rate was 6.3% this time a year ago showing that Dallas Fort Worth can handle all the growth and new construction it has been seeing.
Download Dallas Industrial Market Report 1Q21