Dallas Office Market
| Average Asking Rent (Price/SF) | $27.83 |
| Vacancy Rate (%) | 20.3% |
| Net Absorption (SF) | -340,206 |
The Dallas Fort Worth office market saw modest movement through the second quarter. Vacancy rates have remained relatively stable and have only increased slightly from 20.0% last quarter to 20.3% this quarter. Direct leasing accounted for most of the leasing activity during the second quarter at approximately 2.8 million square feet, which is an increase from the last quarter where it was 2.2 million square feet. Sublease activity accounted for approximately 239,000 square feet, accounting for a small amount of the market’s overall activity. Since second quarter 2020, over 3.3 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.
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Dallas Industrial Market
| Average Asking Rent (Price/SF) | $6.96 |
| Vacancy Rate (%) | 6.5% |
| Net Absorption (SF) | 9,351,095 |
The Dallas Fort Worth industrial market continues to function modestly well even climbing out of 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 second quarter, leasing activity was 20.4 million square feet which is an increase from last quarter in which it was 14.8 million square feet. The market’s nearly 11-year streak of positive absorption continued during the second quarter, as there was approximately 9.3 million square feet absorbed.
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