|IRR 2016: Fort Worth office cap rates, asking rents, vacancy||IRR 2016: Fort Worth office cap rates, asking rents, vacancy||https://www.recenter.tamu.edu/news/newstalk-texas/?Item=12053||2016-02-09T06:00:00Z|
FORT WORTH - Strong population growth, a low unemployment rate, and increases in several key industry sectors appear to be enough to keep the office market within the expansion phase of the market cycle, according to IRR’s 2016 Annual Viewpoint.
The overall vacancy rate saw little variation throughout 2015, and 2016 will likely be similar with little change expected.
Cap rates decreased the second half of 2015 and will likely maintain a slight downward trend in 2016.
Overall rental rates increased slightly from 2015 going into 2016 and are anticipated to climb consistently over the next couple of years.
Discount rates declined slightly, but are expected to be steady going into the first part of 2016.
Absorption outpaced new construction the last two quarters of 2015, and absorption should continue to be positive well into the coming year, with a relatively small amount of new office space set to be completed by the end of 2016.
The overall health of the local economy with strong employment and population growth should continue to drive the expansion of the Fort Worth office market into 2016.
|IRR (Integra Realty Resources)||Dallas-Fort Worth-Arlington||Office|| https://assets.recenter.tamu.edu/Documents/MktResearch/Fort-Worth-Office-IRR-Viewpoint.pdf|
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