Dallas Office Market
| Average Asking Rent (Price/SF) | $27.85 |
| Vacancy Rate (%) | 19.7% |
| Net Absorption (SF) | 166,003 |
The Dallas-Fort Worth office market closed the third quarter of 2021 with stable metrics overall. With the vaccine becoming more widespread, the economy and office market in the metroplex have kept pace with the U.S. national recovery. According to data from Kastle Systems at quarter open, roughly 50% of office space in the market was currently occupied by workers. As the quarter progressed and the COVID-19 Delta variant surged, that number dropped to 42.0% by mid-September. Despite the return to office and strong leasing activity, sublease vacancy rates increased, while rental rates across the market flattened. The Dallas-Fort Worth office market is expected to strengthen through the end of 2021 and into 2022 due to job growth and company relocations and expansions. Rental Rates & Vacancy Remain Relatively Stable
Download Dallas Office Market Report 3Q21
Dallas Industrial Market
| Average Asking Rent (Price/SF) | $6.96 |
| Vacancy Rate (%) | 5.9% |
| Net Absorption (SF) | 9,826,022 |
The Dallas-Fort Worth industrial market experienced a strong third quarter of 2021 as demand stayed elevated and vacancy dropped to a near-historic low. Absorption dropped to 9.8 million square feet but still exceeds the levels seen in the last year and even pre-pandemic. The North Fort Worth submarket accounted for the lion’s share of demand with 3.0 million square feet of positive net absorption, roughly 31% of the market total. Overall vacancy was at 5.9%, dropping 120 basis points year-over-year. Rental rates remained flat with a mere four-basis-point drop to $6.88/SF on a quarter-over-quarter basis.
Download Dallas Industrial Market Report 3Q21