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CBRE: DFW Office MarketView 4Q 2014CBRE: DFW Office MarketView 4Q 2014https://www.recenter.tamu.edu/news/newstalk-texas/?Item=19202015-01-21T06:49:00Z2015-01-21T07:00:00Z

DALLAS-FORT WORTH - The North Texas office market experienced its 18th consecutive quarter of favorable leasing fundamentals in fourth quarter 2014 and appears poised for a strong first half of 2015, according to CBRE.

Fourth quarter 2014 had nearly double the deliveries of 3Q 2014. Preleasing among delivered construction is currently 40.4 percent, with the remaining speculative space contributing to overall market vacancy.

The 4Q saw an increase in new completions and a slightly slowed pace of new construction starts. The under construction pipeline remained above 7.1 million sf over the quarter, driven by activity in suburban markets.

Gross asking rents continued to experience growth, with the overall market average rising moderately to $20.68 per sf in 4Q 2014 from $20.41 per sf in 3Q 2014 on a gross basis.

Class A rates increased at an especially strong pace, rising from $26.44 per sf to $26.61 per sf for the same timeframe.

Below are six of the 17 submarkets in DFW with the lowest vacancy rates.

DFW Market Snapshot by Vacancy
Market Net
Rentable SF
Total
Vacant
Avg.
Asking
Rent
4Q 2014
Total Net
Absorption
2014
Total Net
Absorption
North Fort Worth 1,286,830 3.4 $18.58 3,728 -4,612
South Fort Worth 6,789,325 7.8 $19.88 33,342 13,589
Preston Center 3,860,276 9.4 $32.08 -46,254 -63,188
Southwest Dallas 1,665,033 10.0 $15.52 22,208 70,590
Uptown/Turtle Creek 10,371,340 12.4 $33.75 23,635 -16,069
East Dallas 3,817,856 14.0 $15.51 62,763 185,506
Dallas Total 183,499,602 18.9 $21.07 278,004 2,799,618
Fort Worth Total 35,091,998 16.1 $19.36 65,492 480,383
DFW Total 218,591,600 18.4 $20.68 343,496 3,280,001


Source: CBRE Research

CBRE
Dallas-Fort Worth-Arlington
Office
https://www.recenter.tamu.edu/Pages/market-research.aspxRead more at {Source}

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